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Singapore: Watchdog clears Nissan’s 34% acquisition of Mitsubishi

By  |  February 12, 2017

The Competition Commission of Singapore has cleared Nissan Motor’s acquisition of a 34 percent shareholding in its rival Mitsubishi Motors, the competition watchdog said on its media release.

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    The media release on 6 February informed CCS had issued its clearance decision for the transaction to the two companies on 23 Jan 2017.

    In October last year, Nissan had acquired a 34 percent controlling stake in Mitsubishi.

    CCS said it had sought feedback from end-customers, distributors, and other vehicle manufacturers and none of the feedback received raised competition concerns with the Transaction.

    CCS concluded that the transaction had not resulted in a substantial lessening of competition in the Relevant Markets (RM): the market for the wholesale supply of mini cars, small cars, medium cars, sports utility vehicles,and pick-up trucks in Singapore.

    The two companies’ combined market shares for passenger vehicles do not exceed 40 percent of any of the RM, a threshold used by CCS to evaluate whether the merger could raise competition concerns or not.

    Full Content: The Online Citizen

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