European Commission approves acquisition of Austria-based Schur Flexibles by US-based private equity firm Apollo Capital Management; Schur Flexibles is active in the production, sale of flexible packaging and trading of raw materials

Sample article from our Packaging Industry

BRUSSELS , August 26, 2022 (press release) –

Pakistan: EU allocates €1.8 million in humanitarian assistance for flood victims

The EU is providing €1,800,000 humanitarian aid to families affected by flash floods across large parts of Pakistan. The aid funding will assist affected people in some of the hardest-hit districts of Sindh, Balochistan, Punjab and Khyber Pakhtunkhwa provinces. Commissioner for Crisis Management, Janez Lenarčič, said: “Unusually heavy monsoon rains led to deadly flash floods in Pakistan. While the assessment on the ground is ongoing, we expect more than one million people having lost their homes and in need of direct assistance.  The EU contribution underlines our commitment to the people of Pakistan and enables our partners to provide life-saving aid to those most affected.”  The funding is allocated to EU humanitarian partners operating on the ground to meet immediate needs of flood stricken families, including through the provision of temporary emergency shelter, food and clean water, cash transfers and primary healthcare services. This latest funding comes in addition to last week's allocation of €350,000 in aid to help people in Pakistan's flood-affected province of Balochistan. The EU is funding humanitarian aid operations in Pakistan since 2016. (For more information: Balazs Ujvari - Tel.: +32 229 54578; Daniel Puglisi - Tel.: +32 229 69140) 

 

Agriculture : la Commission approuve une nouvelle indication géographique de Hongrie

La Commission a approuvé aujourd'hui une nouvelle indication géographique protégée de Hongrie : « Nagykörűi ropogós cseresznye », couvrant une variété de grosses cerises sucrées cultivées dans la municipalité de Nagykörű. Située dans l'étreinte des méandres de la rivière Tisza, cette zone géographique présente un microclimat particulier. La production de fruits et de raisins dans des vergers et vignobles clos remonte au milieu du 18ème siècle. Il s'agit aujourd'hui du plus grand verger de cerises de Hongrie, avec une superficie de 200 hectares. La récolte des cerises est effectuée à la main par des producteurs locaux expérimentés. Preuve de son importance dans l'économie locale, la cerise a même été inscrite dans les armoiries de la municipalité. Le Festival de la Cerise (Cseresznyefesztivál), organisé chaque année au mois de juin depuis 1996 dans le village de Nagykörű, célèbre la maturation des cerises. La nouvelle dénomination sera ajoutée à la liste des 1590 produits agricoles et denrées alimentaires existants. La liste de toutes les indications géographiques protégées se trouve dans la base de données eAmbrosia. Plus d'informations sont disponibles en ligne sur les systèmes de qualité et sur le portail GIView. (Pour plus d'informations : Miriam Garcia Ferrer – Tél.: +32 2 299 90 75; Sophie Dirven – Tél.: +32 2 296 72 28)

 

Antitrust: Commission publishes market study on hotels' distribution practices  

The European Commission published today the results of an external market study on the distribution practices of hotels in the EU. The market study was conducted in 2021 and covers the period between 2017 and 2021. It focused on a representative sample of six Member States (Austria, Belgium, Cyprus, Poland, Spain and Sweden). The results of the market study do not indicate any significant change in the competitive situation in the hotel accommodation distribution sector in the EU compared to 2016. The Commission consulted the EU National Competition Authorities (‘NCAs') on the design of the market study and has discussed the results of the study with them. The results of the study will be taken into account by the Commission and NCAs in their ongoing monitoring and enforcement work in the hotel accommodation distribution sector. The Digital Markets Act (‘DMA'), which is expected to enter into force in the autumn may also have an impact on competition in the hotel accommodation distribution sector. A press release is available online. (For more information: Daniel Ferrie – Tel.: +32 229 86500 ; Maria Tsoni - Tel.: +32 229 90526)

 

State aid: Commission approves Italian market conform scheme to manage publicly guaranteed loans

The European Commission has found Italy's plan to enable the transfer of certain State guaranteed loans to a newly created platform managed by AMCO S.p.A. to be free of any State aid. The Commission found that, under the scheme, the Italian State will be remunerated in line with market conditions. It also found that the sale of the loans to the platform managed by AMCO as well as any potential new loans granted by it will be carried out on market terms. Italy notified the Commission of its intention to allow banks to transfer off their balance sheets around €12 billion in two types of loans: (i) loans benefitting from a State guarantee initially approved under the State aid Temporary Framework in April 2020 (SA.56966); and (ii) unguaranteed loans of either the same debtors or connected ones. The economic and legal terms of the State guarantees, namely their duration, coverage and premiums, will remain as initially approved by the Commission. Under the scheme, the loans will first be transferred from the banks to AMCO's platform. The price for those loans will be based on private investors' bids. In return for the transferred loans, investors, which may include the originating banks, will receive notes. The Commission assessed the scheme under EU State aid rules, in particular Article 107(1) of the Treaty on the Functioning of the European Union (‘TFEU'). In this case, the Commission found that the transfers of the loans as well as AMCO's services will be carried out on market terms, i.e. in a manner that would be acceptable for a private operator. On this basis, the Commission approved the Italian measure under EU State aid rules. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “This scheme will enable Italy to maximise the recovery of loans while reducing the impact of the existing State guarantees on the national budget and the effects on the borrowers with good prospects of viability. This is an important step towards recovery for the Italian economy, while ensuring that competition is not distorted.”  A press release is available online. (For more information: Daniel Ferrie – Tel.: +32 229 86500 ; Maria Tsoni - Tel.: +32 229 90526)

 

Aides d'État : la Commission approuve une modification du régime d'aide français destiné à soutenir les entreprises du secteur de la pêche dans le contexte de l'invasion de l'Ukraine par la Russie

La Commission européenne a approuvé une modification du régime d'aides français visant à soutenir les entreprises du secteur de la pêche dans le contexte de l'invasion de l'Ukraine par la Russie. La modification a été approuvé en vertu de l'encadrement temporaire de crise en matière d'aides d'État, adopté par la Commission le 23 mars 2022, et modifié le 20 juillet 2022 pour, entre autres choses, augmenter les quantités d'aide pour les entreprises affectées par la crise actuelle et les sanctions et contre-sanctions. La Commission avait approuvé le régime initial en mai 2022 (SA.102839). La France a notifié les suivants modifications au régime existant : (i) une augmentation de la quantité maximale d'aide par bénéficiaire de 35 000 à 75 000 euros ; (ii) une nouvelle période d'éligibilité à partir du 1er août jusqu'au 30 septembre 2022 ; et (iii) l'augmentation correspondante du budget de 8 millions d'euros. Les bénéficiaires admissibles pourront recevoir un montant d'aide calculé comme suit: (i) 0,20 euros par litre de combustible pour la période entre le 1er et le 31 août 2022 ; et (ii) 0,10 euros par litre de combustible pour la période entre le 1er et le 30 septembre 2022. La Commission a conclu que le régime français, tel que modifié, continue à être nécessaire, approprié et proportionné pour remédier à une perturbation grave de l'économie d'un État membre, conformément à l'article 107, paragraphe 3, point b), du TFUE et aux conditions fixées dans l'encadrement temporaire de crise tel que modifié le 20 juillet 2022. Sur cette base, la Commission a autorisé la mesure en vertu des règles de l'UE en matière d'aides d'État. De plus amples informations sur l'encadrement temporaire de crise et les autres mesures prises par la Commission pour faire face aux effets de l'invasion russe de l'Ukraine sont disponibles ici. La version non confidentielle de la décision sera publiée sous le numéro SA.104067 dans le registre des aides d'État figurant sur le site web de la Commission consacré à la concurrence, une fois que les éventuels problèmes de confidentialité auront été résolus. (Pour plus d'informations: Daniel Ferrie – Tél.: +32 229 86500 ; Maria Tsoni - Tél.: +32 229 90526)

 

State aid: Commission approves €437 Croatian scheme to support companies in context of Russia's invasion of Ukraine

The European Commission has approved a €437 Croatian scheme to support companies in the context of Russia's invasion of Ukraine. The scheme was approved under the State Aid Temporary Crisis Framework, adopted by the Commission on 23 March 2022 and amended on 20 July 2022. Under the scheme, the aid will take form of (i) direct grants covering guarantee premiums, and (ii) guarantees covering part of new loans. The purpose of the scheme is to remedy the liquidity shortage that Croatian companies are facing as result of the serious disturbance of the economy caused by Russia's invasion of Ukraine. The Commission found that the Croatian scheme is in line with the conditions set out in the Temporary Crisis Framework. In particular, as regards the direct grants covering guarantee premiums, the aid will not exceed (i) €62,000 per company active in the agricultural sector, (ii) €75,000 per company active in the fishery and aquaculture sectors, and (ii) €500,000 per company in all other sectors. When it comes to the guarantees on loans, the State may guarantee up to 80% of the loan principal with maximum maturities of up to eight years and with guarantee premiums that respect the minimum levels set out in the Temporary Crisis Framework. For both sub-measures, the aid will be granted no later than 31 December 2022. The Commission concluded that the scheme is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Crisis Framework. On this basis, the Commission approved the scheme under EU State aid rules. More information on the Temporary Crisis Framework and other actions taken by the Commission to address the economic impact of Russia's invasion of Ukraine can be found here. The non-confidential version of the decision will be made available under the number SA.103558 in the State aid register on the Commission's competition website once any confidentiality issues have been resolved. (For more information: Daniel Ferrie – Tel.: +32 229 86500 ; Maria Tsoni - Tel.: +32 229 90526)

 

Mergers: Commission clears acquisition of Schur Flexibles by Apollo Capital Management

The European Commission has approved, under the EU Merger Regulation, the acquisition of Schur Flexibles GmbH of Austria, by Apollo Capital Management L.P. of the US. Schur Flexibles is active in the production and sale of flexible packaging products and trading of raw materials for its manufacture worldwide. Apollo Capital Management is a private equity firm investing in various industries worldwide including the chemical, real estate, insurance, paper and television production sectors. In the flexible packaging market, Apollo Capital Management controls Novolex Holdings, LLC, a producer and supplier of packaging products active predominantly in the US. The Commission concluded that the proposed acquisition would raise no competition concerns given its very limited impact on the market structure. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.10839.(For more information: Daniel Ferrie – Tel.: +32 229 86500 ; Maria Tsoni - Tel.: +32 229 90526)

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

See our dashboard in action - schedule an demo
Jason Irving
Jason Irving
- SVP Enterprise Solutions -

We offer built-to-order packaging industry coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.