Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC clears Plastipak’s acquisition of APPE, (Jun 12, 2015)
Organizations Mentioned:APPE | Plastipak Holdings, Inc.
By Edward L. Puzzo, J.D.
The European Commission has approved the acquisition of APPE, formerly known as Artenius PET Packaging Europe, by Plastipak of the United States, the Commission announced today. Plastipak was the winning bidder in the insolvency procedure of La Seda de Barcelona of Spain, the mother company of APPE.
Plastipak and APPE are mainly active in the manufacturing of plastic preforms made of PET (polyethylene terephthalate) resins, which are tube-shaped intermediary products ultimately molded into PET bottles. Both companies also produce PET bottles and recycle PET materials in order to produce recycled PET resin. The Commission concluded that the proposed transaction will raise no competition concerns because a number of credible competitors will continue to constrain the merged entity in the markets for PET preforms, whereas its market position for PET resin and PET bottles will be limited (case number M.7484).
Companies: Plastipak Holdings, Inc.; APPE
News: AcquisitionsMergers Antitrust