Mergers - Case 1

Strabag/Cemex: Expert to the Austrian Cartel Court on a planned merger between Strabag and Cemex

Merger between Strabag and Cemex. We provided an expert report on the potential anti-competitive effects of a merger on behalf of the Austrian Cartel Court. The merging parties were active in the upstream input market of aggregates and the downstream product markets of concrete, asphalt and construction services. As the nature of the markets is localised, the heart of the analysis consisted of an identification of critical local markets where the merger could potentially lead to anti-competitive vertical as well as horizontal effects. The assessment was based on local market information provided by the merging parties as well as extensive market research. A detailed assessment of the anti-competitive effects within the critical regions was undertaken and remedies, including divestitures, were suggested. The court cleared the merger conditional on divestiture remedies.