Aurubis AG: European Commission expresses concerns in the merger-control proceedings regarding the sale of the segment Flat Rolled Products

Aurubis AG: European Commission expresses concerns in the merger-control proceedings regarding the sale of the segment Flat Rolled Products

In the course of merger control proceedings regarding the sale of the segment Flat Rolled Products of Aurubis AG (Aurubis) to Wieland Werke AG (Wieland), the European Commission informed Aurubis and Wieland that clearance of the transaction can probably not be achieved with the proposed remedies.

Based on its preliminary assessment, the European Commission, in order to clear the transaction, would currently ask for further remedies that Wieland is not obliged to offer under the agreed Sale and Purchase Agreement. Therefore, in Aurubis' view, at this stage, execution of the transaction is not any longer more likely than not.

The Parties agreed that Wieland will continue the merger control proceedings in order to still achieve clearance of the transaction, in particular, based on a revised competitive assessment by the European Commission. Although Aurubis fully supports this approach, the Executive Board has identified strategic alternatives to the transaction as part of a contingency planning.


Contact:
Dr. Björn Carsten Frenzel
Leiter Konzernrechtsabteilung
E-Mail: c.frenzel@aurubis.com
Tel: +49 40 78 83 30 44