The European Commission has referred certain aspects of the proposed acquisition of scrap metal company TSR to the German Competition Authority for examination under German competition law. The transaction involves German companies Cronimet and Remondis, and the Italian company Alfa Acciai. The acquisition of TSR allegedly threatens to significantly affect competition on the regional markets for the collection of carbon steel scrap in the Ruhr area and for the collection of alloyed steel scrap around Stuttgart where there are considerable overlaps between the parties. Moreover, due to joint ventures with other leading market players, considerable structural links would be created on these markets. Furthermore, TSR's current existing participation in the Recool joint venture, along with Abfallentsorgungsgesellschaft Ruhrgebiet mbH (AGR), would further strengthen Remondis' position on the German market for the recycling of cooling systems. The notified operation does not give rise to any competition concerns in other parts of the European Economic Area, and the Commission has therefore approved the rest of the deal under the EU Merger Regulation.
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