Brussels, 3 February 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of International Transportation Inc. (‘ITI’) by Skipjack Terminal Holdings (‘Skipjack’), both of the US, and Mitsui O.S.K. Lines (‘MOL’) of Japan.
ITI is the holding company of TraPac LLC, which operates marine container stevedoring services at terminals in California, US. Stevedoring services consist in the loading and unloading of a ship’s cargo. Skipjack is a special purpose vehicle ultimately controlled by Macquarie Asset Management of Australia, a global provider of assets management services. MOL is active in the provision of marine transportation, warehousing and cargo handling services, among other activities.
The Commission concluded that the proposed acquisition would raise no competition concerns, given its lack of impact on the market in the European Economic Area. The 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.11001.
Source – EU Commission