Sun. Nov 27th, 2022

Brussels, 25 November 2022

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of H & R d.d. Družba za upravljanje z naložbami (‘Hidria’) of Slovenia, by Gonvarri Corporación Financiera, S.L. (‘Gonvarri’) of Spain. As a result of the proposed transaction, Gonvarri will acquire joint control over Hidria alongside the remaining current shareholders Inovatis d.o.o., Ladis d.o.o., Alex Luckmann and Rafis d.o.o, all of Slovenia.

Hidria produces a range of automotive and industrial products. Gonvarri is active in steel services, material handling, precision tubes and metal structures. It is controlled by ACEK Desarrollo y Gestión Industrial, S.L. (ACEK Group) of Spain, which is active in automotive components.

The Commission concluded that the proposed acquisition would raise no competition concerns in the European Economic Area given its very limited impact on the market. The transaction was examined under the simplified merger review procedure.

More information is available on the Commission’s competition website, in the public case register under the case number M.10949.

Source – EU Commission

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