- EU approves joint venture between CMA CGM and CIMC
- The Commission was notified about the proposed joint venture on 7 January.
- The joint venture will provide storage management, container handling and repair services at the port of Tianjin.
The European Commission approved the newly proposed joint venture between CMA CGM and CIMC, says an article published in Safety4Sea.
Newly proposed joint venture
Under the European Merger Regulation, the European Commission approved the 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.
The parties notified the Commission of the proposed joint venture on 7 January.
About the joint venture
The joint venture will provide the below, exclusively at the port of Tianjin, China:
- storage management,
- container handling and
- repair services.
About CIMC Neocontainer
CIMC Neocontainer is a logistics company owned by the CIMC Group, a provider of global logistics services and equipment operations.
European Commission’s statement
The European Commission informed in an official statement on 31st of January
“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.”
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Safety4Sea
