Blackstone cleared to buy Mivisa
The European Commission has cleared the purchase of Spain’s leading can making company Mivisa by private equity group Blackstone.
Mivisa is a Spanish company that manufactures and supplies metal food cans. Blackstone is a US based global asset manager and provider of financial advisory services.
After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
Mivisa is active in tinplate food can manufacturing primarily for the packaging of fish, vegetables and fruits. In addition, Mivisa sells food can ends and metal caps to other food can makers.
Blackstone does not have a controlling interest in any company active in the same market as Mivisa. Via Stolle Machinery it is engaged in the market of food can and can end making machinery, an activity which is vertically related to Mivisa’s activities. But the Commission’s investigation confirmed that the merged entity could not hinder the access of food can producers to food can making machinery or to spare parts. Also food can manufacturers will have access to a sufficient customer base after the transaction.
The Commission therefore concluded that the transaction would not raise competition concerns.