Italian steel re-roller Marcegaglia aims to acquire plate producer Evraz Palini e Bertoli, based in San Giorgio di Nogaro, Udine, in northeastern Italy. Rumors of the planned acquisition had been circulating for several weeks and have now been confirmed by the opening of the "merger case" M.9568 by the EU Directorate-General for Competition.
"The proposed concentration consists in the acquisition by Marcegaglia Plates Spa of the entire corporate capital of Evraz Palini Bertoli Srl. Marcegaglia Plates Spa is an Italian subsidiary entirely owned by Marcegaglia Group, with headquarters in Italy. Evraz Palini Bertoli srl is the Italian subsidiary entirely owned by Evraz Group headed by Evraz PLC, a public company limited by shares incorporated in the United Kingdom. Both Marcegaglia Plates Spa and Evraz Palini Bertoli srl are quarto plate manufacturers,” reads the document published by the EU antitrust authority.
The provisional deadline for this antitrust case is November 29, 2019.