EC approves acquisition of Abertis by ACS and Atlantia
Staff Writer |
The European Commission (EC) has cleared under the EU Merger Regulation the proposed acquisition of Abertis by ACS together with its subsidiary Hochtief and Atlantia.
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The Commission concluded that the proposed transaction would raise no competition concerns in the European Economic Area.
Atlantia and Abertis manage and operate toll motorways. ACS is mostly active in the construction of infrastructure, although it also operates infrastructure concessions.
All three companies are also active in services ancillary to the operation of toll motorways. Such ancillary services include, for example, the provision of electronic toll services together with the distribution of on-board units and the provision of intelligent transport systems.
The Commission's investigation focussed in particular on the impact of the proposed transaction on the market for toll motorway concessions in the European Economic Area, in particular in Italy, where the activities of Atlantia and Abertis overlap, and in Spain, where the activities of ACS and Abertis overlap.
The Commission found that the proposed transaction would raise no competition concerns on these markets due, in particular, to the fact that the three companies are not the closest competitors to each other and to the presence of other significant competitors on the market.
In addition, the market in question is a highly regulated bidding market.
For all of these markets, the Commission found that no competition concerns would arise. This is because the transaction does not significantly increase the three companies' presence in any Member State and a number of strong competitors will remain on the markets.
In addition, the Commission found that it is unlikely that ACS, Atlantia and Abertis will restrict rivals' access to their products, services or customers.
Therefore, the Commission concluded that the proposed acquisition would not endanger competition in any of the markets concerned. ■