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

PartiesCelotex (Holdings) Limited,Celotex Group Limited
Date11 October 2004
Decision Date11 October 2004
StatusPreliminary investigation (Phase 1)
CourtCompetition and Consumer Protection Commission (Ireland)
Decision NumberM/04/052
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
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].
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.

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