A PYMNTS Company

EU: Commission OKs Primetals Technologies/Mitsubishi Heavy Industries deal

By  |  November 11, 2019

The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control over Primetals Technologies of the UK by Mitsubishi Heavy Industries (MHI) of Japan. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Primetals is active in the design and construction of plants for the metallurgical industry, as well as in associated project management services. Primetals is currently controlled jointly by MHI and Siemens Aktiengesellschaft of Germany. MHI is active in various business activities including shipbuilding and ocean development, power systems, nuclear energy systems, compressors and compressor trains, turbines, industrial machinery, automotive engineering, and infrastructure. 

    The Commission concluded that the proposed transaction would raise no competition concerns because MHI already exercises joint control over Primetals and because of the limited vertical links between the activities of MHI and Primetals. The transaction was examined under the simplified merger review procedure.

    Full Content: Europa

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.