Displaying items by tag: Italian Competition Authority

Italy: The Italian Competition Authority (AGCM) has reduced a fine against Cementi Rossi by 20% to Euro4.6m. The fine relates to a penalty of Euro184m levied against a number of cement producers and the Italian Cement Association (AITEC), according to the Il Sole 24 Ore newspaper. The original fine of Euro5.8m was reduced following an appeal to the AGCM.

Italy: The Administrative Regional Court of Lazio has confirmed fines on local cement producers for cartel-like behaviour after an appeal process. Italcementi has been fined Euro84m, Buzzi Unicem has been fined Euro60m and Cementi Moccia has been fined Euro0.69m, according to the ANSA news agency.

The Italian Competition Authority (AGCM) originally imposed total fines of over Euro180m in late 2017 upon Italcementi, Buzzi Unicem, Colacem, Cementir, Sacci, Holcim, Cementirossi, Barbetti, Cementeria di Monselice, Cementizillo, Calme, Cementi Moccia, TSC and the Italian Cement Association (AITEC) for allegedly coordinating sales prices and agreeing market share from June 2011 to January 2016. The other cement companies are currently awaiting the outcome of their own appeals.

Italy: Cementir Italia has had its Euro125m offer to purchase Sacci SpA approved by the Italian Antitrust Authority, the company has said in a statement. The competition body gave its approval to Cementir Italia’s owner, Cementir Holding.

Cementir Italia submitted its offer for the business in November 2015. The target assets comprise five cement production plants in central and northern Italy, three terminals, several ready-mixed concrete facilities, most of which in central Italy, a transport service and some equity interests in other companies.

Cementir Italia will pay part of the acquisition price upon closing of the transaction and the remainder within 24 months from completion, Cementir said in a previous statement. The first part of the payment is subject to adjustment, it added. Cementir plans to finance the acquisition with new and existing debt.