JV was with Anglo American
The Office of Fair Trading has referred the proposed joint venture between Anglo American and Lafarge SA to the Competition Commission for further investigation, after highlighting competitor concerns.
The firms planned to establish a 50:50 venture to which each of them would contribute the bulk of their construction materials businesses in the UK. However, the OFT found that the proposed plan would see overlaps between the companies’ activities in a number of product markets.
The move follows the OFT’s calls for a Competition Commission investigation into anticompetitive practices in the concrete, cement and aggregates industry.
Anglo American said it would work with the Competition Commission to achieve clearance of the joint project as soon as possible.
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