Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves joint venture between Amcor and Sidel, (Sep 24, 2015)
Organizations Mentioned:Amcor | Amcor Group GmbH | Barloworld Handling Limited | BayWa Aktiengesellschaft | Sidel Participations SAS
By Linda O’Brien, J.D., LL.M.
The European Commission (EC) has cleared under the European Union (EU) merger regulation the creation of a joint venture by Amcor Group GmbH of Switzerland and Sidel Participations SAS of France, the EC announced today.
Amcor is a manufacturer and supplier of rigid and flexible packaging products for the food, beverage, healthcare, home and personal care, and tobacco industries. Sidel is a global provider of packaging equipment and solutions, in particular stretch blow molding machinery for blowing polyethylene terephthalate (PET) plastic bottles and filling machines for plastic and glass bottles and cans. Sidel is controlled by the Tetra Laval Group.
The joint venture will develop the "LiquiForm technology." This technology will make it possible to produce machines that combine the blowing and filling of plastic bottles, which currently requires a two-step operation. The Commission concluded that the proposed acquisition would raise no competition concerns, because Amcor and Sidel's activities do not overlap, and because the "LiquiForm technology," when it becomes available, will be an entirely new product that currently does not compete with its parents' activities.
Barloworld – BayWa joint venture. The EC also has cleared under the EU merger regulation the creation of a joint venture by Barloworld Handling Limited of the United Kingdom and BayWa Aktiengesellschaft of Germany. Barloworld Handling belongs to the South African Barloworld group, which produces earthmoving, power systems, materials handling and agricultural equipment, as well as automotive and logistics services.
BayWa is a German group active in agriculture, building materials, and energy. The joint venture will distribute agricultural machinery and parts and provide related services in Zambia at first, and may become active in other Sub-Saharan areas. The Commission concluded that the proposed acquisition would raise no competition concerns because the joint venture will have no or negligible activities within the European Economic Area (EEA).
Companies: Amcor Group GmbH; Sidel Participations SAS; Barloworld Handling Limited; BayWa Aktiengesellschaft
News: AcquisitionsMergers Antitrust