Under the European Merger Regulation, the European Commission announced the approval of a newly-proposed joint venture between the French shipping company CMA CGM and China International Marine Containers Neocontainer Logistics Limited (CIMC Neocontainer), part of CIMC Group.
As explained, the joint venture will provide storage management, container handling and repair services, exclusively at the port of Tianjin, China.
CIMC Neocontainer is a logistics company owned by the CIMC Group, a provider of global logistics services and equipment operations.
The Commission concluded that the proposed acquisition would not raise competition concerns given its very limited impact on the market structure. The transaction was examined under the simplified merger control procedure,
…the European Commission informed in an official statement on 31st of January.
The parties notified the Commission of the proposed joint venture on 7 January.
See also:
- CMA CGM to sell stakes in 10 port terminals to Terminal link
- CMA CGM’s Saadé calls Macron to back ‘energy transition coalition’ for transport
