(CercleFinance.com) – The European Commission has cleared under the EU Merger Regulation the acquisition of joint control of PT. Patimban International Car Terminal (PT. Patimban) by Toyofuji Shipping (Toyofuji), Nippon Yusen Kabushiki Kaisha (NYK), Kamigumi and Toyota Tsusho Corporation (TTC), all of Japan.
PT. Patimban operates and manages the car terminal business in the new international port of Patimban, Indonesia.
The Commission concluded that the proposed acquisition would raise no competition concerns, since PT. Patimban does not carry out any activity in the European Economic Area. The transaction was reviewed under the simplified merger review procedure.
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