Last week, the European Commission informed that it would assess the takeover of French shipbuilder Chantiers by their Italian competitor Fincantieri under the EU merger control regulation. Initially, the deal had been notified with the French and German competition authorities. These have referred the assessment to Brussels.
The Commission’s preliminary point of view is that the transaction could significantly harm competition in shipbuilding, in particular on the global market for cruise ships. Therefore, it will fully assess the acquisition. Further details regarding the proposed acquisition can be found in the Commission’s press release.
The EU merger control aims at preventing the formation of a dominant market position by way of transactions. Competitors, customers, suppliers and cooperation partners will probably receive the possibility to inform the Commission of their point of view in the weeks to come. Of course, we are happy to assist interested parties.
The antitrust team of ARNECKE SIBETH DABELSTEIN advises clients from the maritime business on a regular basis regarding competition issues and assists them with regard to proceedings of the competition authorities and with current legislative developments.