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No trouble for CVC in Brussels

The European Commission has approved CVC’s purchase of Cementbouw.

The European Commission in Brussels has given CVC Capital Partners, the European private equity provider, permission to proceed with the purchase of Cementbouw Handel & Industrie BV from Amstelland NV, the Dutch property developer.

The Commission said the sale of the building materials trading business to CVC “does not raise any competition concerns.”

CVC has agreed to pay Amstelland E862m for Cementbouw. The deal is the latest in a string of previous acquisitions for the firm in the sector.

In February CVC bought Lenzing, the Austrian fibre manufacturer, from Bank Austria for a nearly ?700m. It also has a majority stake in Lafarge's paints and mortar business, which it bought in 2000 together with Advent International and the Carlyle Group in a E800m transaction.