H&M: EU clears joint venture in recycling
(CercleFinance.com) - The European Commission has announced that it has authorised the creation of a joint venture between Remondis Recycling International GmbH ("Remondis") of Germany and H&M Hennes & Mauritz International AB ("H&M") of Sweden.
This structure will collect, sort and sell used and unwanted clothing and textiles. Remondis is a service provider active in recycling, utilities, industrial services and water management.
The Commission concludes that the proposed acquisition would not give rise to any competition concerns, given the limited activities of the joint venture in the European Economic Area.
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