European Commission Approves AGC Acquisition of Controlling Stake in Interpane
July 13, 2012

The European Commission (EC) has approved AGC Glass Europe's acquisition of a controlling stake in Germany-based Interpane, according to the regulating organization. The EC had previously announced that it was investigating the pending deal due to a "proposed concentration."

According to the Commission, the was acquisition is in accordance with the Merger Regulation and AGC, which is controlled by Japan-based Asahi Glass Co., is now able to acquire a "controlling stake" of Interpane.

"The Commission concluded that the proposed transaction would not raise competition concerns because the merged entity would continue to face sufficient competition," writes the EC in its announcement.

The EC continues, "After reviewing the 'competitive effects' of AGC's recent acquisition in numerous glass markets such as raw float glass, coated glass, laminated glass, sealed units toughened glass, silvered glass, fire resistant glass rolled and wired glass and solar glass, the Commission determined that the proposed merger will not drastically change the glass market structure. Additionally, the merged sector of the companies "would face competitive pressure from a number of credible competitors."

The pending acquisition originally was announced in December 2011.

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