 |
 |
||||||
[April 2002]
EC Clears the Galileo Brick Joint Venture
The European Commission has authorised the creation of Galileo Brick Ltd, a joint venture that will combine Ambion Brick Co Ltd and Chelwood Group Ltd, companies which are owned by Royal Bank Private Equity Ltd (RBPE) and Cinven Ltd respectively and which are active in the manufacture and supply of bricks. Both are UK based concerns manufacturing bricks for use in the construction of residential and commercial/industrial buildings. They both offer a broad range of (primarily) facing and engineering bricks.RBPE and Cinven will create a new company - Galileo Brick Ltd - which will be jointly controlled by both parent companies. Ambion and Chelwood will be owned by Galileo which will combine RBPE and Cinven's current activities in the brick manufacturing business.
According to the European Commission, its market investigation revealed that the present operation will have no anti-competitive impact on the structure of the market, given that in the UK market for bricks there are a number of other strong competitors. Thus, the proposed concentration will not lead to the creation or strengthening of a dominant position.
ENDS