EC investigating Sea-Invest’s joint control acquisition of EMO-EKOM

EC investigating Sea-Invest’s joint control acquisition of EMO-EKOM    The European Commission is investigating Belgian cargo handling company Sea-Invest’s joint control acquisition of Dutch competitor EMO-EKOM.
   Both companies activities focus on the loading, unloading and storage of iron ore and coal.
   The EC is concerned about potential crossover at the ports of Antwerp, Rotterdam and Amsterdam. Sea-Invest operates in a number of ports in Belgium, France, Germany and South Africa among other, and has sole control over the ABT terminal in Antwerp. The current shareholders in EMO-EKOM are ThyssenKrupp Veerhaven B.V. (TKV), Manufrance BV and HES Beheer N.V. TKV is ThyssenKrupp Steel’s seaport forwarder for the ports of Amsterdam, Rotterdam and Antwerp. HES holds stakes in a number of terminals handling dry bulk in the ports of Rotterdam, Amsterdam and Zeeland, while Manufrance holds interests in dry bulk terminals in Amsterdam and Zeeland.
   “During its initial investigation, the commission has identified serious concerns that the acquisition by Sea Invest of joint control in EMO-EKOM may lead to significant impediments to competition within the European Economic Area (EEA),” the EC said in a statement.
   “Furthermore, the merger might also lead to coordination between Sea-Invest, EMO-EKOM and the other controlling shareholders of EMO-EKOM active in the coal and iron ore cargo handling market in the ARA (Antwerp, Rotterdam and Amsterdam) range (HES and Manufrance),” the EC said.
   The EC will announce its final decision by Aug. 18.