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.