Verallia Takeover Receives Approval

The EC has approved, under the EU Merger Regulation, the acquisition of Verallia by Apollo Management LP of the USA. Before the transaction, Verallia belonged to France's Compagnie de Saint-Gobain. Apollo Management is a private equity firm. The Commission concluded that the proposed acquisition would not raise competition concerns, in particular because there are no overlaps between the activities of Apollo Management and its portfolio companies and those of Verallia. The transaction was examined under the simplified merger review procedure. Apollo is expected to buy Verallia for 2.945/BN Euros.