On 1 October 2025, the European Commission referred to the Autorité de la concurrence the examination of the acquisition by Holcim Investments, owned by Holcim LTD, the holding company of the Holcim group, of sole control of the Alkern group, owned by Kernal Invest[1].



The Holcim group is primarily active in the production and sale of cement, aggregates and ready-mix concrete. The Alkern group is primarily active in the production of pre-cast concrete elements and in the production and sale of aggregates.

The Commission considers the Autorité to be the best placed to examine the transaction



The referral is made pursuant to Article 4(4) of Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (the EU Merger Regulation), at the request of the Holcim group.



In agreement with the company concerned, the European Commission considered that the French competition authority was the best placed to examine the transaction, in particular in view of its impact on the French market and the experience of the Autorité in the sector concerned. The Autorité is now, therefore, competent to examine the planned transaction.



[1] The transaction also involves the acquisition of joint control by the Holcim group of Entreprise Val Béton Moulé de l’Est (EVBME) alongside Old Inn and of Sofama Vermeulen alongside Vermeulen Matériaux.
      
      
      

                
          
            Referrals by the European Commission to the Autorité de la concurrence
      
            

Merger transactions are regularly referred by the European Commission to the Autorité de la concurrence, demonstrating the flexibility of the European merger control regime. Under the referral mechanism, which is provided for by EU regulation 139/2004, the European Commission may refer the review of a transaction to the national authority best placed to assess its effects on competition, when that transaction “may significantly affect competition in a market within a Member State which presents all the characteristics of a distinct market”.



The transaction in question is the 44th transaction referred by the European Commission to the Autorité de la concurrence since 2009.
      
      

                
          
  
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            Nicola Crawford
      
      
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European Commission Refers Holcim-Alkern Acquisition to French Authority

On October 1, 2025, the European Commission referred the examination of Holcim Investments' acquisition of the Alkern group to the Autorité de la concurrence. This referral is made under Article 4(4) of the EU Merger Regulation, at the request of the Holcim group.

The Holcim group is involved in the production and sale of cement, aggregates, and ready-mix concrete, while the Alkern group specializes in pre-cast concrete elements and aggregates. The Commission believes that the French competition authority is best suited to assess the transaction's impact on the French market due to its experience in the sector.

This referral marks the 44th transaction referred to the Autorité de la concurrence by the European Commission since 2009, highlighting the flexibility of the European merger control regime. The referral mechanism allows the Commission to delegate the review of transactions that may significantly affect competition in a distinct market within a Member State.



European Commission Refers Holcim-Alkern Acquisition to French Authority

The European Commission has referred the acquisition of the Alkern group by Holcim Investments to the French competition authority for examination, citing its expertise in the sector.