U.K. Office of Fair Trading questions Adsteam takeover
The United Kingdom’s Office of Fair Trading (OFT) has referred the proposed A$693 million ($530 million) takeover of Australian-listed Adsteam Marine Ltd. by A.P. Moller-Maersk’s global towage and salvage company SvitzerWijsmuller to the U.K. Competition Commission.
Adsteam’s principal business is towage operations at container, bulk and general cargo ports in Australia, the South Pacific and the United Kingdom.
“The Competition Commission has been asked to decide whether the acquisition may be expected to result in a substantial lessening of competition in the market for the supply of harbor towage services in the U.K.,” the OFT said in a statement.
The Competition Commission is expected to report its findings Feb. 14. Representations about the takeover may be made by Sept. 22. to: Inquiry Secretary (Svitzer/Adsteam merger inquiry), Competition Commission, Victoria House, Southampton Row, London, WC1B 4AD, or by e-mail to Anthony.Pygram@cc.gsi.gov.uk .
U.K. Office of Fair Trading questions Adsteam takeover
