(Boursier.com) — The European Commission has authorized, under the EU Merger Regulation, the proposed acquisition of Bolloré Logistics by CMA CGM. Authorization is subject to full compliance with the commitments offered by the parties. The Commission’s investigation revealed that the concentration, as initially notified, would have led to a reduction in competition in the markets for the provision of maritime transit services in Martinique, Guadeloupe and French Guiana. The regulator noted, in particular, that the operation would have created important vertical links between the regular maritime transport activities by containers carried out upstream by CMA CGM on the links between Europe and Martinique, Guadeloupe and Guyana French and the maritime transit activities carried out downstream by Bolloré Logistics in these territories.
The Commission noted that CMA CGM could have the capacity to favor Bolloré Logistics to the detriment of competing freight forwarders, particularly given the very high market shares it holds on these overseas routes and the competitive structures of these territories, and that she could be incited to act in this way.
To allay Brussels’ fears regarding competition, the companies proposed to sell all of Bolloré Logistics’ activities in Guadeloupe, Martinique, Saint-Martin and French Guiana and several assets linked to these activities in mainland France.
These commitments fully remedy the competition problems identified by the Commission, given that they eliminate the vertical link between the regular maritime container transport activities carried out by CMA CGM and the maritime transit activities carried out by Bolloré Logistics in the territories concerned. .
Following the positive reactions received in the market stakeholder consultation on the commitments, the Commission has concluded that the transaction, as modified by the commitments, would no longer raise competition concerns. The decision is subject to full compliance with the commitments made.
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