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Global Competition Review: EU In-Depth Clearance Underlines Bloc’s “Anxiety” About Green Supply ChainsMay 05, 2023
The European Commission unconditionally approved Norsk Hydro’s acquisition of Alumetal following a seven-month probe into the deal, determining that it poses no competition concerns. Christian Peeters, counsel to Hydro, said that this is “a good day for the good guys," further noting that he had been working with the commission for the past 15 months. The approval is a “rare feat” for parties “battling it out” in a Phase II probe, where 90% of deals are aborted, blocked or approved subject to remedies, Peeters said. Norsk Hydro is represented by Riccardo Celli, Peeters, Philippe Noguès, Rebecca Evans, Jéssica Nemeth, and Katharina Weiss of O’Melveny & Myers LLP.
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