The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control over Primetals Technologies of the UK by Mitsubishi Heavy Industries (MHI) of Japan.
Primetals is active in the design and construction of plants for the metallurgical industry, as well as in associated project management services. Primetals is currently controlled jointly by MHI and Siemens Aktiengesellschaft of Germany. MHI is active in various business activities including shipbuilding and ocean development, power systems, nuclear energy systems, compressors and compressor trains, turbines, industrial machinery, automotive engineering, and infrastructure.
The Commission concluded that the proposed transaction would raise no competition concerns because MHI already exercises joint control over Primetals and because of the limited vertical links between the activities of MHI and Primetals. The transaction was examined under the simplified merger review procedure.
Full Content: Europa
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