Emirates Global Aluminium Subsidiary EGA Acquires Italy's Eco Green
The Italian Competition Authority (AGCM) has cleared the acquisition of Eco Green S.r.l. by UAE-based EGA International Holdings Limited. Under the approved deal, EGA will purchase an 80-85% stake in the Italian recycling company, securing sole corporate control. The four original owners will retain a minority share of 20-25% without strategic veto powers.
EGA International belongs to the Emirates Global Aluminium (EGA) Group, a vertically integrated global giant active across the entire aluminum value chain. In 2024, the EGA Group generated global revenues between €7 billion and €8 billion, including up to €595 million in Italy alone.
Based in Villafranca di Verona, Eco Green specializes in salvaging and recycling metallic materials, particularly aluminum, and processing them into semi-finished products for domestic and international markets. In 2024, Eco Green recorded total global revenues between €100 million and €595 million.
The antitrust authority reviewed the transaction because the combined domestic turnover of the companies exceeded the mandatory €595 million legal threshold under Italian competition law. The regulatory body also restricted the transaction’s non-compete clauses to a maximum of two years to safeguard market freedom.
Ultimately, the Authority decided not to launch an in-depth investigation, ruling that the acquisition will not disrupt market competition or create a dominant market position. The regulator highlighted that the horizontal overlaps between the two companies remain under 10% globally and regionally, while numerous strong competitors continue to operate in the sector. Furthermore, EGA holds less than a 5% share in related upstream and downstream markets, eliminating risks of market foreclosure.