EC OKs CMA CGM’s Delmas takeover

EC OKs CMA CGM’s Delmas takeover    The European Commission has cleared CMA CGM’s $600 million acquisition of the shipping interests from compatriot industrial group Bollore.
   Under terms of the acquisition, agreed between the two parties in September, CMA CGM takes over specialist Europe/Africa carriers Delmas, OT Africa Line and Setramar as well as Delmas’ vessels, containers and headquarters in Le Havre. CMA CGM also gets Bollore’s 50 percent share in SudCargos. CMA CGM later bought the remaining 50 percent stake in SudCargos from French state-owned ferry operator SNCM.
   “The commission considers that although both companies are active on some routes between Africa and Europe, the increased market share will not be sufficient to significantly impede effective competition in the European Economic Area or any part of it,” the EC said.
   As a result of the deal CMA CGM has a presence in the Europe/West Africa for the first time and becomes the world’s third-largest ocean carrier with a fleet approaching 500,000 TEUs