Aurubis seeks ‘strategic alternatives’ after EC vetoes rolled-copper business sale to Wieland

Aurubis AG is searching for strategic alternatives for its flat-rolled product business after the proposed sale of the division to peer Wieland Werke was rejected by the European Commission (EC), the German copper producer said on Wednesday February 6.

After a six-month investigation, the EC has formally vetoed the merger, citing “serious concerns” that the deal would create a new dominant player in the business of rolled copper products, regarded as a key input for major European industries, such as electric vehicle production. “We are sorry to hear the Commission’s decision, though it doesn’t come as a surprise to us. In our opinion, Wieland-Werke would have offered a strong future prospect for the flat rolled product segment,” Aurubis chief executive officer Jürgen Schachler said in a statement. Aurubis had said last...

Published

Julian Luk

February 06, 2019

12:49 GMT

London