Mexico regulations extends reviews PPG’s acquisition Comex
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Mexico regulations extends reviews of PPG’s acquisition of Comex

11:57 AM, 14th October 2014
Mexico regulations extends reviews of PPG’s acquisition of Comex

PITTSBURGH, US: PPG Industries has received notice from Mexico’s Federal Economic Competition Commission that it is extending the review timeline of PPG’s previously announced agreement to acquire Consorcio Comex, SA de CV. Without this extension, the competition commission would have been required to rule on the regulatory filing within the coming days.

PPG announced on 30 June 2014 that it had reached a definitive agreement to acquire Comex in a transaction valued at $2.3 billion. PPG indicated then it expected a 4 - 6 month regulatory review timeline. This original projection anticipated an extension by the Commission, given the magnitude of the transaction. PPG continues to anticipate the transaction will close in the fourth quarter, within the original timeline.

 

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