Europe's Largest copper smelter Aurubis Monday received approval of the Antimonopoly body of the European Union in connection with the planned acquisition of Belgian-Spanish group for the processing of metals Metallo for 380 million euros, according to message European Commission.
"the Commission concluded that the merger will not have an adverse impact on competition in the European economic area or any substantial part of it," said the Commission.
In may 2019 Aurubis has agreed to buy Metallo for 380 million euros in the expansion of the business.
Metallo processes about 220,000 tons of scrap and materials for recycling in a year at its plant in Beerse Belgium and 95 000 tonnes at its plant in Berango in Spain.
in Addition to the copper Metallo produces a number of other metals including tin and lead. Handles complex wastes with low metal content.
the competition authorities of the European Union in early 2019 vetoed the plan Aurubis to sell his unit of flat rolled German manufacturer Wieland copper products, claiming that the deal could lead to higher prices.
