European Commission Clears Take Over of HDW

Friday, May 31, 2002
The European Commission has authorized the proposed acquisition of the German submarine producer Howaldtswerke-Deutsche Werft (HDW) by the American banking company, Bank One Corporation. The Commission's investigation confirmed that the operation will not create anti-competitive effects, as the transaction will not result in any overlaps between the parties' activities in the European Union. The Commission's careful investigation has also failed to establish any links between Bank One and any US defense group with respect to the acquisition of HDW nor were there any indications that other companies were involved in the financing of the acquisition. Under an agreement notified to the Commission on April 25 for regulatory clearance under the European Union's Merger Regulation, Bank One will, through its wholly-owned subsidiary HDW Holding, acquire 75% minus one share in HDW. The remaining shares will be held by Babcock Borsig. As usual, the Commission carefully examined the companies' activities in the EU and concluded to the absence of overlaps, given that neither Bank One nor its subsidiaries are present in any of HDW's sector activities in the Union. In the course of the review, the Commission also carefully examined whether Bank One was linked to any US defense group or whether the acquisition was being financed by companies other Bank One, but it could not establish any such links.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Indonesia Expects Total to Decide on Mahakam within days

French oil firm TotalĀ  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Asia-N Europe Container Freight Rates Jumps 60%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday,

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1122 sec (9 req/sec)