Brussels, 31 August 2010
Mergers: Commission clears civil and naval ship deal between Abu Dhabi Mar and ThyssenKrupp Marine Systems
The European Commission has cleared under the EU Merger Regulation a proposed concentration between Abu Dhabi Mar and ThyssenKrupp Marine Systems in the areas of civil and naval ship building and repair. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
Abu Dhabi Mar (ADM) builds and repairs ships in Abu Dhabi (United Arab Emirates) as well as in its Nobiskrug shipyard in Rendsburg (Germany). ThyssenKrupp Marine Systems (TKMS), a subsidiary of ThyssenKrupp AG, is also active in the construction, repair and reconstruction of both civil and naval ships.
The operation involves two parts: First, ADM acquires TKMS' civil ship business, including the Blohm+Voss shipyard in Hamburg and the civil assets of the Howaldtswerke-Deutsche Werft shipyard in Kiel. Second, ADM and TKMS set up a jointly controlled joint venture in the naval surface ship business. The transaction does not include TKMS' submarine business.
The concentration does not raise any competition concerns. It does not lead to any significant overlaps, the only relatively minor one being in the mega yacht market. In the markets for building naval ships, ADM is not active in Germany, Sweden and Greece, where TKMS traditionally has had strong positions. Furthermore, the Commission's market investigation has also confirmed that, on the vertically affected markets for ship components, there is no risk of input foreclosure by TKMS or by Atlas Elektronik, a JV which TKMS has control in.
The transaction was notified to the Commission on 28 July 2010.
More information on the case will be available at: