Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves acquisition of Sirona by Dentsply, (Feb 26, 2016)
Organizations Mentioned:DENTSPLY International, Inc. | Dentsply International Inc. | Ivanhoe Cambridge China Inc. | Logos China Investment Limited | Logos New Holding Company Pty Ltd. | Macquarie Corporate Holdings Pty Limited | Sirona Dental Systems Inc. | Sirona Dental Systems, Inc.
By Linda O’Brien, J.D., LL.M.
The European Commission (EC) has cleared under the European Union (EU) merger regulation the proposed acquisition of dental equipment manufacturer Sirona by Dentsply, both of the United States, the EC announced today.
Headquartered in Long Island City, New York, Sirona is the world’s largest dental equipment supplier. Dentsply, based in York, Pennsylvania, manufactures and distributes dental and other healthcare products.
The Commission's investigation focused on the main product areas where both Dentsply and Sirona are active—namely, computer-aided design and computer-aided manufacturing (CAD/CAM) materials, small dental equipment, dental imaging systems, and dental implant systems. The approval is conditional in particular upon the extension of licensing agreements between Sirona and its current suppliers of CAD/CAM blocks used in its chairside CAD/CAM systems. The Commission found that these commitments addressed its competition concerns.
Logos Australia, China acquisition. The EC also has cleared under the EU merger regulation the acquisition of Logos New Holding Company Pty Ltd, Logos New Holding Trust, and Logos New Investment Trust, all of Australia (together "Logos Australia") and Logos China Investment Limited of the British Virgin Islands by Macquarie Corporate Holdings Pty Limited of Australia and Ivanhoe Cambridge China Inc. of Canada. Ivanhoe is part of the pension fund Caisse de dépôt et placement de Québec of Canada and is a global real estate investor.
Logos Australia and Logos China both develop and manage real estate in Australia and China, respectively. Macquarie is an investment intermediator for institutional, corporate, and retail clients around the world in a wide range of sectors, including resources and commodities, energy, financial institutions, infrastructure, and real estate. The Commission concluded that the proposed acquisition would raise no competition concerns, because neither Logos Australia nor Logos China was active in the European Economic Area (EEA).
Companies: Sirona Dental Systems Inc.; Dentsply International Inc.; Logos New Holding Company Pty Ltd.; Logos China Investment Limited; Macquarie Corporate Holdings Pty Limited; Ivanhoe Cambridge China Inc.
News: AcquisitionsMergers Antitrust