By Editor Morten B. Reitoft
July 22nd, Heidelberger Druckmaschinen told the world that benpac holding AG would acquire Gallus and the rest of Heidelberg's narrow web division. The press released stated that the agreement was pending approvals from respective bodies.
The boards of both Heidelberger Druckmaschinen and benpac holding soon approved the deal, and most people expected the agreement to be in full before the end of the year (2020), as stated.
However, the acquisition has to be checked by The German Bundeskartellamt (antitrust authorities).
The filing date for case B5-163/20 benpac / Heidelberger Druckmaschinen / Gallus Druckmaschinen / Gallus Holding was December 1st. 2020.
We spoke to the Bundesamtkartell today, and they confirmed that the case was still under process and that they, by law, are obligated to state their ruling four weeks after the filing date. This means that the verdict should be public around December 29th.
If the verdict is favorable, the acquisition can continue, and in theory, benpac then pay Heidelberger Druckmaschinen before the end of the year, as initially expressed in the press release!
If the verdict isn't favorable, The Bundeskartellamt will take the case into a second-round, which can take up to four months to process.
Last-minute - and still subject of why the filing wasn't done earlier? After New Year, we will soon realize whether Marco Corvi and benpac can pay according to terms or whether new pages in this saga will have to be added.
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