Italian stainless manufacturer wants to buy German tube mill

by Gerber Group | Jun 13, 2024

13 June 2024 – The Italian stainless steel manufacturer Cogne Acciai Speciali wants to take over a large German tube producer. The European Commission has today opened the necessary procedure for the proposed transaction to fall under the Merger Regulation. And are you also looking for current stainless steel stock lists?

According to a recent announcement by the European Commission (EC), the Italian long stainless steel manufacturer Cogne Acciai Speciali wants to take over the German tube manufacturer Mannesmann Stainless Tubes GmbH in its entirety.

To this end, the Commission has initiated a so-called simplified procedure in the run-up to a possible merger, as the notified transaction could fall under the EC Merger Regulation. It reserves the right to make a final decision on this point. All third parties concerned have 10 days to submit their observations to the Commission.

The fact that investigations of this kind usually only take place to keep up appearances can be recognised by the fact that if actual protection against cartels was wanted, the relevant authorities would have had to take action in completely different places and at different times. It is therefore likely that the EC will simply rubber-stamp this review.

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