Cristian Lay gets approval to acquire Gallardo Balboa

Spanish authorities confirmed last week that Cristian Lay’s proposed acquisition of the Gallardo Balboa group has received the necessary green light from local regulators.

Last month Cristian Lay was indicated as the winner of the bidding race to acquire Gallardo Balboa in full (see Kallanish passim).

Spanish regulators confirm that the inclusion of Gallardo Balboa into Cristian Lay will not cause anti-trust issues. Cristian Lay has no operations in the steel sector. “The operation does not result in horizontal or vertical overlaps,” the Spanish competition watchdog confirms.