France OKs Saint-Gobain's $247M Brossette Buy, With Proviso

Law360, New York (March 26, 2012, 1:26 PM EDT) -- France's antitrust regulator on Monday gave construction giant Compagnie de Saint-Gobain SA the green light to acquire Wolseley PLC's French plumbing-heating subsidiary Brossette for $247 million, provided it sells off 22 stores.

Without the divestitures, the deal would create unfair market conditions bordering on monopoly in western France, the Autorite de la Concurrence said in a statement.

The Autorite said that because both companies are active in the sector of specialized plumbing, heating and air conditioning products, rival retailers “would be unable to exercise sufficient competitive...
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