Mergers: Commission clears acquisition of joint venture for container storage management
The European Commission has approved the acquisition of joint control of a newly created joint venture between CMA CGM S.A. (based in France and active in global container liner shipping and port terminal services) and CIMC Neocontainer (a logistics company based in China). The joint venture will provide container storage management, handling and repair services exclusively at the port of Tianjin in China.
The Commission greenlighted the operation under the EU Merger Regulation, considering that the proposed acquisition does not raise competition concerns given its very limited impact on the structure of the market.
Further information is available on the Commission's website.