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.
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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