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EU regulators to examine Holcim, Cemex deal

BRUSSELS, Oct 18 (Reuters) - EU antitrust regulators will examine a bid by Mexican cement maker Cemex to acquire Swiss peer Holcim's cement operations in Spain following a request from Spanish authorities, the European Commission said on Friday.

Holcim and Cemex unveiled in August plans to exchange some assets and combine others in Europe to boost profit amid tough conditions in the construction sector.

"The European Commission has accepted a request from Spain to assess under the EU merger regulation the proposed acquisition of Holcim's cement operations in Spain by rival Cemex," the EU competition authority said in a statement.

"The Commission also concludes that it is the best placed authority to deal with the potential cross-border effects of the transaction," it said.

It said it would ask Cemex to submit its request for approval of the deal to Brussels.

The European Union executive said the Czech competition authority would continue to examine Cemex's takeover of Holcim's business in the Czech Republic.