Poland Probes Air Products’ Purchase of ACP Europe
UOKiK said it has referred the deal to the second stage of its review process in order to determine whether the takeover would restrict competition.
According to the regulator, the results of a market study showed that if the transaction went ahead, Air Products would control more than half of the CO2 market’s production and marketing, and its share would be more than twice the size of its largest competitor.
This advantage might also grow in the coming years due to the planned start-up of new facilities, said UOKiK. As a result, the authority said the deal might lead to increased prices for liquid CO2.
UOKiK has given Air Products 14 days to respond to its reservations, although this period may be extended by a further two weeks.