Sika’s £4.5 Billion Acquisition of MBCC Group

May 2, 2023

Cleary Gottlieb advised Sika in the UK and EU on its £4.5 billion acquisition of MBCC Group, a German construction systems company.

The transaction involved a Phase 2 investigation by the UK’s Competition and Markets Authority (CMA) as well as clearance in many jurisdictions worldwide, including the EU, U.S., Canada, Australia, and New Zealand.

The deal is particularly notable for making use of the CMA’s accelerated Phase 2 procedure – one of only two cases to use this procedure to date. This case is a rare example of the CMA allowing remedies involving a significant carve-out across several jurisdictions.

Sika and MBCC are two of the largest suppliers of construction chemicals worldwide.

This matter was closed on May 2, 2023.