Decision Nº M/04/052 from Competition and Consumer Protection Commission, 2004-10-11

• Jurisdiction: Ireland
• Parties: Celotex (Holdings) Limited,Celotex Group Limited
• Date: 11 October 2004
• Decision Date: 11 October 2004
• Decision Number: M/04/052
• Court: Competition and Consumer Protection Commission

1

Determination No. M/04/052 of the Competition Authority, dated 11th October

2004, under Section 21 of the Competition Act, 2002

Notification No. M/04/052 – Proposed acquisition by Celotex Group Limited of

Celotex (Holdings) Limited

Introduction

1. On 13th September 2004 the Competition Authority, in accordance with Section

18 (1) of the Competition Act, 2002 (“the Act”) was notified, on a mandatory

basis, of a proposal whereby Celotex Group Limited would acquire the entire

issued share capital of Celotex (Holdings) Limited.

The Parties

2. Immediately prior to the acquisition, The Second ABN AMRO Private Equity

Fund will hold a majority interest in Celotex Group Limited. The Second ABN

AMRO is part of the ABN AMRO Group, which carries out inter alia, venture

capital activities. Therefore the acquiring party will be the ABN Amro Group.

3. Celotex (Holdings) Limited is owned by a collection of individual shareholders

and is the holding company for Celotex Limited (“Celotex”). Celotex is involved

in the manufacture, distribution and sale of insulation, lining and other materials

to the building and construction industry and is registered in the UK. Its sales in

Ireland fore the most recent financial year are less than €[0 – 500,000].

Analysis

4. ABN Amro does not hold an equity interest of 15% or more in any company that

has been identified by it as a competitor, customer or supplier of Celotex. There

is no overlap between the activities of the parties and thus the transaction does

not give rise to competition concerns.