On 8 February, the European Commission approved the acquisition of MBCC Group by Sika following a Phase I investigation, subject to remedies.
Both parties are major producers of construction chemicals, resulting in horizontal overlaps in a large number of relevant markets. The Parties’ combined market shares and market share increments were highest in the national markets for chemical admixtures for concrete and cement. In this area, RBB inter alia supported the Parties by conducting an analysis of customer win/loss and tender data, as well as an analysis of supply radii and local market shares. After the commercial decision was taken to address competition concerns by divesting MBCC’s global chemical admixture business in its entirety, RBB further supported Sika in assessing the feasibility of potential purchasers for the divestment business from an antitrust risk perspective.
The European Commission’s press release can be found here.
Apart from the European Commission, a number of national competition authorities globally investigated the transaction. RBB supported Sika throughout the pre-notification period and the phase I proceedings in the EEA, the UK, Australia, and New Zealand, working alongside Baker McKenzie.