Mergers: EU Commission clears acquisition of OceanConnect Marine by Bunker Holding
The European Commission has approved, under the EU Merger Regulation, the acquisition of OceanConnect Marine (“OCM”) of Singapore by Bunker Holding A/S of Denmark.
OCM is a bunker trading company currently owned by Glencore. OCM is primarily active in the trading and brokering of marine fuels, and operates the online bunker purchase platform AuctionConnect.
Bunker Holding specialises in purchasing, selling, and supplying marine (bunker) fuel, marine gas oil and lube oil as well as risk management and associated services. The Commission concluded that the proposed acquisition would raise no competition concerns because of the limited overlaps between the activities of Bunker Holding and OCM.
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.9836.
Arianna Podesta –