EU Commission approves Saint-Gobain's purchase of Sika

The Commission, which rules on antitrust issues in the European Union, said that the proposed acquisition would not raise competition concerns given the companies' moderate market sizes and a large number of competitors in the manufacturing industry.In December, the SWH holding of the Burkard-Schenker family, which controls Sika with a 16.1 percent stake and 52.4 percent of voting rights, agreed to sell control of the chemicals company to Saint-Gobain for 2.75 billion Swiss francs ($2.88 billion).Read more below.The European Commission said on Thursday it had approved the acquisition of Swiss chemicals company Sika by French building materials maker Saint-Gobain.  

The Commission, which rules on antitrust issues in the European Union, said that the proposed acquisition would not raise competition concerns given the companies' moderate market sizes and a large number of competitors in the manufacturing industry.

In December, the SWH holding of the Burkard-Schenker family, which controls Sika with a 16.1 percent stake and 52.4 percent of voting rights, agreed to sell control of the chemicals company to Saint-Gobain for 2.75 billion Swiss francs ($2.88 billion).

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