Sun. Jul 14th, 2024

Brussels, 10 May 2023

The European Commission has approved, under the EU Merger Regulation, the acquisition of International Transportation Inc. (‘ITI’) by Skipjack Terminal Holdings (‘Skipjack’), both of the US, and Ocean Network Express Pte. Ltd. (‘ONE’) of Singapore.

ITI operates marine container loading and unloading services at ship cargo terminals in California, US. Skipjack is a special purpose vehicle managed by Macquarie Asset Management, a global provider of assets management services. ONE operates a global container liner shipping business.

The Commission concluded that the proposed acquisition would raise no competition concerns, given that it would have no 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.11056.

Source – EU Commission

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