LUXEMBOURG, Oct 5 (Reuters) - German cement makers HeidelbergCement and Schwenk on Monday lost their challenge to an EU antitrust veto of their joint bid for the Croatian business of Mexico’s Cemex after Europe’s second-highest court backed the EU decision.
The European Commission in its 2017 ruling said the companies’ offer to grant rivals access to a cement terminal in southern Croatia was not sufficient to address competition concerns that the deal would push up cement prices in Croatia.
The companies subsequently appealed to the General Court.
The court dismissed their arguments and lawsuit.
The EU competition watchdog said the judgment backed its analysis of the case leading to its veto of the deal.
The case is T-380/17 HeidelbergCement and Schwenk Zement v Commission. (Reporting by Foo Yun Chee; Editing by Mark Potter)