Akzo/Metlac issues statement
27 Jun 2012
The Competition Commission (CC) has today published an issues statement as part of its investigation into Akzo Nobel NV’s proposed acquisition of Metlac Holding S.r.l.
The Office of Fair Trading (OFT) referred the case last month, and the CC will decide whether the acquisition may be expected to result in a substantial lessening of competition in any market or markets for goods or services in the UK.
Akzo Nobel’s subsidiary (Akzo Nobel Coatings International B.V. (ANCI)) and Metlac Holding’s subsidiary (Metlac S.p.A. (Metlac)) both manufacture and supply metal packaging coatings. These are used, for example, in the production of beverage and food cans.
ANCI has an existing stake of 49 per cent in Metlac Holding. Akzo Nobel has an additional 44.4 per cent share in Metlac. ANCI has a call option to buy the remaining shares in Metlac Holding, which it has decided to exercise. Upon transfer of the shares Akzo Nobel’s shareholding in Metlac would increase to 100 per cent.
The CC is expected to publish its final report by 6 November 2012.
The issues statement identifies clearly for all interested parties the key questions which the inquiry is examining. The issues statement does not imply that the Inquiry Group has yet identified any competition concerns.
The full issues statement is available on the inquiry home page along with all other information relating to the investigation.
Any interested party is invited to respond to the issues statement, in writing, by no later than 11 July 2012. To submit evidence, please email: Akzo.Metlac@cc.gsi.gov.uk or write to:
Matt Weighill
Inquiry Manager, Akzo/Metlac merger inquiry
Competition Commission
Victoria House
Southampton Row
LONDON
WC1B 4AD
Notes for editors
1. The CC is an independent public body, which carries out investigations into mergers, markets and the regulated industries.
2. The members of the Akzo/Metlac Inquiry Group are: Roger Witcomb (Chairman of the Group & CC Chairman), Ian Jones, Anthony Stern and Katherine Holmes.
3. The Enterprise Act 2002 empowers the OFT to refer to the CC completed or proposed mergers for investigation and report which create or enhance a 25 per cent share of supply in the UK (or a substantial part thereof) or where the UK turnover associated with the enterprise being acquired is over £70 million.
4. The CC has a 24-week period in which it is required to publish its report, which may be extended by no more than eight weeks if it considers that there are special reasons why the report cannot be published within that period.
5. Further information on this inquiry, including the terms of reference and other key documents, as well as on the CC and its procedures, including its policy on the provision of information and the disclosure of evidence, can be obtained from the CC website at: www.competition-commission.org.uk.
6. Enquiries should be directed to Rory Taylor or Siobhan Allen or by ringing 020 7271 0242.
