Antitrust Law Daily Wrap Up, ANTITRUST NEWS: EC clears acquisitions of MWV by AR Packaging, Delta Lloyd by Apollo, and GEKOL by Varo Energy, (Apr 1, 2015)

By Linda O’Brien, J.D., LL.M.

The European Commission (EC) has cleared under the European Union (EU) merger regulation the proposed acquisition of European tobacco business and the general packaging folding carton operations of MeadWestvaco Corporation (MWV) of the U.S. by the AR Packaging Group of Sweden, the EC announced today.

AR Packaging produces folding carton packaging and flexible packaging on a global level. AR Packaging will acquire two Austrian subsidiaries of MWV, as well as assets held by a Czech subsidiary of MWV. The Commission concluded that the proposed acquisition would raise no competition concerns because of the moderate combined market positions resulting from the proposed transaction.

Delta Lloyd—Apollo merger. The EC also announced that it has approved under the EU merger regulation the acquisition of Delta Lloyd of Germany by Apollo of the U.S. Apollo invests, through affiliated investment funds, in companies and corporate debt all over the world. Delta Lloyd, a subsidiary of Delta Lloyd N.V., provides life insurance and leases commercial real estate. The Commission concluded that the proposed acquisition would not raise competition concerns because the companies' activities only overlap in a minimal manner in the real estate rental market in Germany.

GEKOL—Varo Energy merger. Additionally, the EC announced that it has approved under the EU merger regulation the acquisition of sole control over GEKOL Mineralölhandel of Germany by Varo Energy of the Netherlands. Varo Energy is an existing joint venture between Vitol of the Netherlands and the Carlyle Group of the U.S. It is active in the refining of oil and the wholesale and storage of refined oil products in various EU Member States, including Germany. GEKOL is mainly active in the wholesale of jet fuel and various other refined oil products in Germany. The Commission concluded that the proposed transaction would raise no competition concerns, as the parties' individual and combined positions on the relevant markets are very small and subject to strong competition.

The above transactions were examined under the simplified merger review procedure.

Companies: MeadWestvaco Corporation; AR Packaging Group; Delta Lloyd; Apollo; GEKOL Mineralölhandel; Varo Energy

News: AcquisitionsMergers Antitrust