Milbank advised Südbayerisches Portland-Zementwerk Gebr. Wiesböck & Co. GmbH, Rohrdorf (Rohrdorfer) on merger control-related aspects concerning the acquisition of all shares in Ganser Baustoffe GmbH & Co. KG, Kirchstockach (Ganser). The acquisition was approved by the German Federal Cartel Office on August 23, 2021, without conditions or obligations, following an extended in-depth phase 2 review.
The transaction involved the merger of two leading producers of ready-mix concrete in the Munich area. Due to the significant market presence of both producers and the high degree of concentration in the ready-mix concrete markets, the Federal Cartel Office undertook an in-depth phase 2 review with respect to both a possible dominant position of the merged entity and the possibility of oligopoly concerns. In a statement of objections dated May 25, 2021, the Federal Cartel Office notified Rohrdorfer of its intention to prohibit the transaction due to significant competition concerns resulting from the creation of an oligopoly in the Munich area. In the course of the further proceedings, however, the Federal Cartel Office abandoned this position and approved the transaction without conditions or obligations.
With around 2000 employees, Rohrdorfer is active at more than 140 locations in Germany, Austria, Italy and Hungary in the production and distribution of cement, ready-mix concrete, sand and gravel, precast concrete elements and other concrete products such as paving stones and floor slabs.
Milbank advised Rohrdorfer on all merger control-related aspects of the transaction. The clearance represents one of the few cases per year in which the Federal Cartel Office grants clearance without conditions and obligations after conducting an in-depth phase 2 review.
The Milbank team was led by Alexander Rinne and included associates Moritz Lichtenegger and Stefanie Gschoßmann (all Antitrust, Munich).
