The European Commission has cleared four deals involving ArcelorMittal, Honda, CVC and a new joint venture between ITOCHU and Peninsula under EU merger rules.
ArcelorMittal S.A. of Luxembourg has been approved to take sole control of ArcelorMittal CLN Distribuzione Italia S.r.l. (AMCLN) of Italy, a business focused on distributing flat carbon steel products in Italy, the Commission announced on Thursday.
Honda Motor Co., Ltd. has also been cleared to acquire sole control of Astemo, Ltd., with the transaction relating mainly to automotive and transportation components as well as industrial machinery and systems.
Simplified reviews
CVC Capital Partners plc of Jersey has received approval to acquire sole control of Marathon Asset Management LP and related entities, which together make up MAM, a US asset management business.
Separately, the Commission cleared the creation of a joint venture by Japan’s ITOCHU Corporation and Ireland-based Peninsula Petroleum Limited, focused on marketing services for ammonia bunkering supply operations and trading ammonia as marine fuel — bunkering refers to supplying fuel to ships.
All four cases were assessed under the Commission’s simplified merger review procedure, and none raised competition concerns because of limited market positions or limited impact on market structure.
