Brussels, 5 December 2024
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Banco Santander S.A. of Spain and Pemberton Asset Management Holdings Limited (‘Pemberton’) of Jersey.
The transaction relates primarily to the market of contract logistics services.
The Commission concluded that the notified transaction would not raise competition concerns, given that the joint venture has negligible activities in the European Economic Area and in view of the companies’ limited combined market position resulting from the proposed transaction. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11701.