EC clears Sea-Invest’s joint control acquisition of EMO-EKOM
The European Commission has cleared 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 was initially concerned about horizontal overlaps of activities on the market for coal and iron ore terminal services at the ports of Antwerp, Rotterdam and Amsterdam.
“The in-depth investigation has shown that in practice there is only very limited competition for the services concerned between the ports of Antwerp and Rotterdam,” the EC said in a statement.
Sea-Invest operates in a number of ports in Belgium, France, Germany and South Africa among others, and has sole control over the ABT terminal in Antwerp. 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.
The proposed transaction will result in the acquisition by Sea-Invest of an indirect shareholding in EMO-EKOM currently held by RAG. After the transaction, EMO-EKOM will be jointly controlled by Sea-Invest, TKV, HES and Manufrance.