The European Commission has cleared the proposed acquisition of Grupo Gallardo Balboa S.L.U by KKR & Co. Inc, under the EU Merger Regulation. On July 12, the EC received notification from KKR & Co Inc, a US-based global investment firm which offers asset management services to investors, of its intention to acquire indirect sole control of Grupo Gallardo Balboa SLU, a Spain-based holding company for various steelmakers producing corrugated steel.
KKR will acquire control of the entire Grupo Gallardo Balboa by acquiring the shares of Grupo Gallardo. The proposed transaction was examined under the simplified merger review procedure.