CCCS Clears Proposed Acquisition by Gebr. Knauf KG of USG Corporation
The Competition and Consumer Commission of Singapore (“CCCS”) has today cleared the proposed acquisition by Gebr. Knauf KG (“Knauf”) of USG Corporation (“USG”) (collectively the “Parties”) (the “Proposed Acquisition”). Following its review, CCCS has concluded that the Proposed Acquisition, if carried into effect, will not infringe the section 54 prohibition of the Competition Act (Cap. 50B) (the “Act”).
In Singapore, the Parties mainly overlap in the supply of gypsum boards (also known as plasterboards) and modular suspended ceilings (“Overlapping Products”). The Overlapping Products are supplied by manufacturers to distributors and end-customers (e.g. installers) in Singapore.
CCS considered that the relevant markets for its assessment of the Proposed Acquisition were: (a) the supply of gypsum boards in Singapore; and (b) the global supply of modular suspended ceilings using mineral fibre tiles to Singapore.
After consulting stakeholders and evaluating all relevant information, CCCS has concluded that the Proposed Acquisition, if carried into effect, will not lead to a substantial lessening of competition within the relevant markets in Singapore.