PARIS (Agefi-Dow Jones)–The British competition authority (CMA) announced on Thursday that it was examining the acquisition of the American construction chemicals group GCP Applied Technologies by the materials producer Saint-Gobain in order to determine whether the transaction would significantly reduce competition in the UK.
The CMA invites interested parties to provide their views on the impact the proposed transaction may have on competition in the UK. This invitation to comment is the first part of the CMA’s information-gathering process, before the start of its formal investigation.
Saint-Gobain indicated last December that it had signed an agreement to acquire GCP Applied Technologies, for an amount representing an enterprise value of 2.3 billion dollars, or approximately 2.15 billion euros.
“This acquisition is a decisive step in establishing Saint-Gobain as a world leader in construction chemicals, with total sales of more than 4 billion euros (compared to 3 billion euros previously)”, explained the French group at the end of 2021.
Saint-Gobain plans to finance this acquisition with its available cash. Its completion is expected by the end of 2022.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: JXM
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May 26, 2022 02:31 ET (06:31 GMT)