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Turkish Competition Board approves Erdmir s acquisition of Kümaş Manyezit Sanayi
Turkey: Steel company Erdmir has received the Turkish Competition Board (TCB) s approval for its acquisition of a 100% stake in refractory and magnesia producer Kümaş Manyezit Sanayi. Erdemir s parent company is OYAK Group, an industrial conglomerate with interests in cement alongside other industries. Thus, the TCB considered the deal s competition impacts on the cement industry. The board ruled that the vertical merger would not have a negative effect on competition because it does not give rise to horizontally affected markets, hence neither creating nor strengthening any dominant market position. /Global Cement
UAECEMENT.COM - Dec, 08,2021

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