Brussels, 28/07/2008 (Agence Europe) - On Friday 25 July, the European Commission approved the proposed acquisition of So.Ge.Par Group by the Finnish company, Outokumpu Oyj. Outokumpu is the parent company of a group mainly active in Italy, Sweden, Finland and the UK, in the production, sale and distribution of a wide range of stainless steel products. Sogepar operates as a distributor of stainless steel products across the EU, mainly in Italy, Germany and the UK. After examining the operation, the Commission concluded that the proposed transaction would not significantly impede effective competition in the European Economic Area. The horizontal overlaps between the activities of Sogepar and Outokumpu in distribution of stainless steel products are limited and that the combined firm would continue to face several strong competitors with significant market shares. The Commission also studied the proposed new entity's enlarged vertical overlap between the upstream market of stainless steel production and downstream market of distribution of the stainless steel product range, and concluded that there would be no risk of any of the markets concerned being foreclosed, as there are alternative and competing sources of supply. (A.B./trans/rh)