The European Commission has cleared four mergers and joint ventures under the EU Merger Regulation, including deals spanning real estate, housing, car components and battery storage, saying none raised competition concerns.
One decision approved the creation of a joint venture between Al-Mukhazin Al-Ama For Storage Company and ROSHN Group Company, both based in Saudi Arabia, with the transaction primarily relating to real estate in Saudi Arabia, the Commission said on Friday.
The watchdog concluded the deal would not raise competition issues because it would have limited impact on the European Economic Area (EEA) — the EU plus Iceland, Liechtenstein and Norway.
In a separate case, the Commission cleared the acquisition of joint control of a housing portfolio in Spain by Germany’s Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (Munich RE) and US investor Oaktree Capital Holdings, LLC. The housing portfolio had been owned by Oaktree before the transaction, according to the Commission.
Car parts and battery storage ventures also cleared
The Commission also approved Porsche and Rheinmetall taking joint control of KS Huayu AluTech GmbH, a German company involved in the sale of automotive components for passenger cars and commercial vehicles. It found the companies had limited market positions in relation to the deal and saw no competition concerns.
A further decision cleared a joint venture between Germany’s EVH Grüne Energie and HSBC Alternative Investments S.C.A. SICAV-RAIF of Luxembourg to develop and operate a battery energy storage system in Döllnitz, Sachsen-Anhalt, Germany.
The Commission said the joint venture would have negligible activities in the EEA and that the companies’ combined market position would be limited.
All four cases were examined under the Commission’s simplified merger review procedure.
Further details were published in the Commission’s online case register under the numbers M.12463, M.12469, M.12425 and M.12374.
