Mergers - Case 10

Imerys/Pará Pigmentos: Expert to the Austrian Cartel Court - merger appraisal in the kaolin industry

E.CA was appointed as the economic expert by the Austrian Cartel Court for the assessment of a merger involving the French firm Imerys S.A. planned takeover of the Brazilian company Pará Pigmentos S.A, which operated a kaolin mining and processing facility. E.CA undertook an analysis of the relevant product and geographic market definition taking into account substitutability across applications as well as between competing products. Due to procedural reasons the investigation was dropped prior to termination.