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MERGERS: AMO SR approved the merger of the undertakings CRCC International Investment Group Limited and Grupo Aldesa, S.A.

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On 5 February 2020 the Antimonopoly Office of the Slovak Republic, the Division of Concentrations, (hereafter ”the Office“) approved a merger grounded in the acquisition of a direct exclusive control of the undertaking CRCC International Investment Group Limited, Hong Kong, China (hereafter „CRCC“) over the undertaking Grupo Aldesa, S.A., Madrid, Spain (hereafter ”Grupo Aldesa“).
The object of the group CRCC´s activity is the construction and also particularly research, projecting, consulting, logistics, trading with goods, industrial production and real estate development. Construction activities are the basic object of the group´s activity, namely in several areas, such as railways, highways, bridges, tunnels, airports, shipyards. The acquirer´s group is active in addition to China also in more than 120 countries around the world, in Slovakia it does not perform any of the abovementioned business activities.
The acquired company is a construction company with its seat in Spain, whereas it has a network of branches in Europe, North and South America. In Slovakia, the construction activity of the acquired company concerned only two projects that are already completed. The company Grupo Aldesa is currently not active in Slovakia.
The Office found out that in the case of the given merger there is no horizontal overlap nor vertical interconnection between the activities of the merging parties in relationship to Slovakia.
After evaluating the documentation and information obtained, the Office came to the conclusion that the merger assessed is in accordance with the Article 12 Paragraph 1 of the Act on Protection of Competition, since it does not significantly impede effective competition in the relevant market, particularly as the result of the creation of strengthening of a dominant position.
The decision came into force on 10 February 2020.