CC to investigate metal packaging coatings merger
24 May 2012
The Competition Commission (CC) is to investigate Akzo Nobel NV’s (Akzo Nobel) proposed acquisition of Metlac Holding S.r.l. (Metlac Holding).
The Office of Fair Trading (OFT) has referred the case to the CC, which 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. Between them, the parties supply around 40 to 50 per cent of the European Economic Area market. The OFT received a number of third party concerns relating to the loss of Metlac as a competitor in the supply of metal packaging coatings.
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 CC would like to hear from all interested parties, in writing, by no later than 13 June 2012. To submit evidence, please email Akzo.Metlac@cc.gsi.gov.uk or write to:
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 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.
3. 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.
4. 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.
5. Enquiries should be directed to Rory Taylor or Siobhan Allen or by ringing 020 7271 0242.
