|Mergers: Commission clears acquisition of joint control over Aqualia by IFM and FCC
The European Commission has approved under the EU Merger Regulation the acquisition of joint control over FCC Aqualia S.A. (“Aqualia”) of Spain by IFM Investors Pty Ltd of Australia and Fomento de Construcciones y Contratas S.A. (“FCC”) of Spain. Aqualia is mainly active in water management and treatment, predominantly in Spain. IFM is an investor-owned global investment manager. FCC has a diversified business portfolio, which includes, among others, environmental services and water management, construction of large infrastructures, cement production and renewable energy production. The Commission concluded that the proposed acquisition would not raise competition concerns since there are no overlaps between the companies’ activities. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.9030.
Mergers: Commission clears creation of joint venture between Sumitomo and Tierra
The European Commission has approved under the EU Merger Regulation the acquisition of joint control by Sumitomo Corporation of Japan and Tierra S.p.A. of Italy over of a newly created joint venture. The joint venture will provide IT consultancy services and management of other computer facilities in India and south-east Asia. Sumitomo is active in various sectors, including trading of metal products, transportation and construction of systems, environment and infrastructure, chemicals and electronics, media, networks and lifestyle related goods, mineral resources and energy and life sciences. Tierra is a joint venture between Topcon of Japan and Elda Ingegneria of Italy that develops and provides telematics information management systems and software solutions. It serves original equipment manufacturers and aftermarket customers in the agriculture, construction, surveying, and general industry sectors worldwide. The Commission concluded that the joint venture between Sumitomo and Tierra would not raise competition concerns, because it does not have any planned activities in the EEA. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.9053.
Joint statement by First Vice-President Timmermans and Commissioner Jourová ahead of the Europe-Wide Day of Remembrance for the victims of all totalitarian and authoritarian regimes
“Each year on this day, we pay tribute to the victims of all totalitarian regimes and recall with sorrow the terrible consequences of the Molotov-Ribbentrop pact, signed on 23 August 1939 by Nazi Germany and the Soviet Union. The Pact plunged Europe even deeper into one of its darkest periods. Millions of people were murdered and generations of fellow Europeans scarred. It is our duty to preserve the names of the millions persecuted, and keep their memories alive. Especially because today, 79 years later, our common values of human dignity, fundamental rights, rule of law and democracy are challenged again by extremist, nationalist and divisive rhetoric. By guarding and passing on the memory of past atrocities to the next generation of Europeans, we help to inoculate ourselves against repeating them, and we recall the importance of defending the human rights of every European. We must continue to tell the story of what happened in Europe’s past, so that we do not make the same mistakes in the future.” The full statement can be found here.