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Proposed Acquisition by Oiltanking GmbH of Chemoil Storage Limited
7 November 2012
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Reference: | CCS 400/007/12 |
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Notifying Parties: | Oiltanking GmbH and Chemoil Storage Limited |
Notifying Date: | 7 November 2012 |
Summary of Transaction: | PART 5 (i) the names of the merger parties; • Oiltanking GmbH (“Oiltanking”); and (ii) a description of the transaction; This joint notification is made by Oiltanking and Chemoil in relation to the acquisition by Oiltanking of 100 per cent. ordinary shares in the capital of Chemoil. (iii) a description of the business activities of the merger parties worldwide and in Singapore; Oiltanking owns 73 tank terminals in 22 countries worldwide, with a total storage capacity of 19.7 million cubic meters. Oiltanking offers storage services for petroleum products, vegetable oils, chemicals and other liquids. (iv) a description of the overlapping goods or services, including brand names; The Parties submit that the relevant product market should, at the narrowest, be defined as the market for fuel oil storage (v) the applicant’s views on: a. definition of the relevant market(s); The overlapping service provided by Oiltanking and Chemoil is the storage of fuel oil in Singapore, as this service is provided in both Oiltanking and Chemoil terminals in Singapore. The Acquisition will not result in a substantial lessening of competition in view of factors, including the following: (a) the notified Acquisition does not result in any significant increase in concentration or changes to the structure of the market; |
Decision: | The proposed merger, if carried into effect, will not infringe the section 54 prohibition. |
Decision Date: | 14 December 2012 |