Mergers: EU Commission clears acquisition of Altadia by Carlyle

The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of LSFX Flavum Topco, S.L. (‘Altadia’) of Spain by The Carlyle Group Inc. (‘Carlyle’) of the US. Altadia is active in the development, production and marketing of ceramic tile intermediates that are used in the construction trade. Carlyle is a global alternative asset manager.

Carlyle and Altadia are active in vertically related markets, since one of Carlyle’s portfolio companies, Traxys, manufactures products used as inputs in Altadia’s goods.

The Commission concluded that the proposed transaction would raise no competition concerns given that, for the goods under consideration, Traxys’ market share is limited. In addition, the ceramic tile intermediates sector only represents a minimal share of demand for each of these goods. The transaction was examined under the normal merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10603.