Press Release: Mergers: Commission opens in-depth investigation into proposed take-over of SIG by financial investment groups CVC and Ferd

The European Commission has opened a detailed investigation under the EU Merger Regulation into the planned acquisition of joint control by Ferd (the owner of Elopak of Norway) and CVC (of Luxembourg) over SIG of Switzerland. Both Elopak and SIG are suppliers of carton filling machines and carton material for non-carbonated liquid food products packaging. An in-depth investigation will enable the Commission to assess whether the reduction of competitors in the already highly concentrated market for carton packaging would possibly have anti-competitive effects and possibly harm consumers. The Commission has now has 90 working days, until 15 May 2007, to take a final decision on whether the concentration would significantly impede effective competition within the European Economic Area (EEA) or a substantial part of it. The decision to open an in-depth inquiry does not prejudge the final result of the investigation.