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AGC and Interpane Merger on Hold According to European Commission

Post Time:May 29,2012Classify:Industry NewsView:108

Two float glass producers previously set to merge last December, AGC Glass Europe and the German glass manufacturer Interpane, according to Tokyo-based parent company Asahi Glass Co. (AGC), are now on hold due to a notification released by the European Commission.

"On April 17, 2012, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation, by which the undertaking AGC Glass Europe, will also acquire within the meaning of Article 3 of the Merger Regulation joint control of the whole of the undertakings Interpane International (Germany) and Interpane Glass Holding AG (Switzerland) - together, "Interpane," by way of purchase of shares," reads the notification.

It continues, "On preliminary examination, the Commission finds that the notified transaction could fall within the scope the EC Merger Regulation. However, the final decision on this point is reserved. The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission."

According to report, the AGC/Interpane merger is in final stage review by the European Commission, with a deadline of May 29. Read the European Commission notification document

Source: http://www.glassonweb.com/news/index/16020/Author:

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