BRUSSELS (Reuters) – The European Commission said on Thursday it had opened an in-depth investigation into the proposed acquisition of Polish recycler Alumetal by Norwegian metals maker Norsk Hydro.
The Commission said the 1.07 billion zloty ($214.6 million) deal announced in April could reduce competition in the production and supply of aluminium foundry alloys and master alloys in Europe.
“Access to competitively priced green aluminium products is essential to achieve our objectives of fighting climate change,” EU antitrust chief Margrethe Vestager said in a statement.
“Our investigation aims to ensure that the acquisition of Alumetal does not have a negative impact on the competitive landscape for certain aluminium markets and in particular green aluminium products for European automotive customers.”
The Commission said it has until Feb. 23 to take a decision.
($1 = 4.9861 zlotys)
(Reporting by Bart Meijer; editing by Philip Blenkinsop)
