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European Commission wants comments on Metallum Holdings takeover

Date: Fri, 24 Jun 2011 | Author: Paul Sanderson

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Interested parties have been invited to comment by the European Commission on the takeover of Luxembourg-based metal recycler Mettalum Holdings by US company First Reserve Fund.

Companies and bodies wishing to comment, have ten days from yesterday to submit their observations on the takeover.

The European Commission said in a statement: “On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the EC Merger Regulation. However, the final decision on this point is reserved.”

In April, First Reserve agreed a €670 million (£597 million) deal to buy Mettalum Holdings, which owns copper and tin refining business Metallo and ferrous and non ferrous scrap recycling and trading business Metallum.

According to First Reserve, Metallum has around about a 20 per cent market share of copper volumes traded in Europe.

The company recycles, processes and sells around 1 million tonnes per year of metals, of which 60 per cent is copper, 20 per cent aluminium and the rest iron and other metals. 

Category: Recycling
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