Commission clears Alcan takeover bid for Pechiney, subject to conditions

The European Commission has approved the proposed acquisition of French aluminium producer Pechiney by Alcan of Canada. The Commission's review highlighted serious concerns in a number of markets, but Alcan was able to address such concerns by offering to divest a number of businesses. Frontier advised Alcan during the inquiry. The EU's press release about the decision can be read here.