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Editor in chief: Angelo Scorza
29/10/18 10:48

CMA CGM gained 'green light' from Europe for Containerships' takeover

The European Commission endorsed the deal announced by the company last summer

As announced yesterday by the European Commission, Finland-based Containerships has formally joined giant CMA CGM family: the deal was finally approved by Brussels.

Pursuant to EU mergers regulations, the Commission confirmed having endorsed Container Finance Ltd Oy's takeover by France-based CMA-CGM group.

Containerships – pinpoints a statement issued by the Commission - is controlled by Container Finance, company specialized in intra-regional transport in Northern Europe and the Mediterranean, also providing port services.

“The merger – according to Brussels – won't infringe fair trade regulations, particularly considering its restricted impact on multimodal transport, on containers short-sea shipments and freight handling services”, in essence, due to the above reasons, the European Commission raised no objection.

Last June, CMA CGM had announced having sealed preliminary accord for taking over Containerships, company recruiting over 560 staff represented in Italy by Milan-based ECS European Containers.

The Scandinavian liner brings deeply rooted businesses in the Baltic sea as well as 4 LNG newbuildings to be shortly delivered.

TAG : Container