The European Commission has approved UK-based M&G Investment Management and Arini Capital Management taking joint control of Italy’s Reno de Medici, which is currently controlled by US firm Apollo Management.
The deal mainly concerns the production and supply of cardboard products, the Commission said in a statement on Friday.
It explained that it cleared the transaction under the EU Merger Regulation — the bloc’s rules for reviewing takeovers and mergers that could affect competition.
Regulators concluded the acquisition would not raise competition concerns because the companies are not active in the same markets or in vertically related markets.
Simplified review
The transaction was assessed under the Commission’s simplified merger review procedure, which is used for cases considered unlikely to create competition problems.
Further details are available on the Commission’s competition website and in its public case register under case number M.12612.
