Summary of transaction:
INFORMATION FOR THE CCS PUBLIC REGISTER
(TO BE COMPLETED BY THE APPLICANT(S))
1. The Applicants
This notification is made jointly by Greif International Holding B.V. (“Greif”) and GEP Asia Holdings Pte Ltd (“GEP”) (collectively, the “Parties”) in relation to the creation of a joint venture company, Greif Eastern Packaging Pte Ltd (“Greif Eastern”), by the Parties.
2. Description of the Merger
This notification is in relation to the creation of a joint venture company, Greif Eastern, by Greif and GEP, where Greif and GEP will contribute their respective Singapore business in the manufacturing and selling of steel drums, bitumen drums and steel pails of various capacities and lithographic printing to Greif Eastern, in consideration for equity interests in Greif Eastern. The Parties submit that given the strong countervailing buyer power by large customers, the feasibility of sponsored entry into the market, the existence of competitive constraints imposed by alternative suppliers of steel drums and other suppliers of alternative industrial packaging products from Singapore and outside of Singapore, the joint venture, when carried into effect, will not result in a substantial lessening of competition in the relevant markets.
3. Relevant good(s) or service(s) involved
The supply of rigid industrial packaging products in Singapore and Malaysia.