The European Commission has reserved its final decision on the proposed merger between Swiss Steel and Jacquet Metals. It has invited interested third parties to submit their observations on the transaction.
In February, Swiss Steel signed an agreement for the sale of several distribution subsidiaries to Jacquet Metals, a distributor of specialty metals (see Kallanish passim).
The transaction includes Swiss Steel s.r.o in the Czech Republic, Swiss Steel Baltic OÜ in Estonia, Swiss Steel Magyarorszag Kft in Hungary, Swiss Steel Baltic SIA in Latvia, Swiss Steel Baltic, UAB in Lithuania, Swiss Steel Polska in Poland and Swiss Steel Slovakia, belonging to the Swiss Steel group. Together, these generated a total net revenue of €158 million ($169m) and Ebitda of €12m in 2022, with 267 employees, by selling mostly non-Swiss Steel products.
It is the second significant agreement between Swiss Steel and Jacques Metals, following the sale of distribution entities in Germany, Austria, Belgium and the Netherlands in 2015.
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