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Compagnia Italiana di Navigazione jumps ship on Tirrenia ferry acquisition

By  |  April 29, 2012

 

Since Compagnia Italiana di Navigazione (CIN) has abandoned its proposed acquisition of Tirrenia, the European Commission has closed its investigation into the transaction. CIN was a joint venture between Tirrenia’s main rivals–Grimaldi, Marinvest, and Onorato Partecipazioni–created for the purpose of the acquisition. The Commission had opened an investigation into the deal on January 18, 2012 because of its concerns with competition on maritime routes, especially to Sardinia. Grimaldi and Marinvest have since withdrawn from the joint venture. Onorato Partecipazioni will enter into a new transaction.

Full content: EC Press Release

 

Related content: Italy Overhauls its Merger Control Filing Fee System (Stefano Grassani, Pavia e Ansaldo)

 

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