Brussels: The European Commission has approved under the European Union (EU) Merger Regulation the acquisition of joint control of SOCAR Aliaga Port Management Co., Ltd. (SOCAR Terminal) by SOCAR Turkey Enerji A.S. (STEAS) and Terminal Investment Switzerland S rl (TISS), European Commission said, APA reports.
According to Azeri-Press News Agency, TISS is a subsidiary of the Swiss companies MSC Mediterranean Shipping Company Holding SA and the US-based BlackRock, Inc. The transaction mainly involves the provision of container terminal services in the Aliaga region of Izmir, Turkey.
The Commission has assessed the potential impact of the transaction and concluded that it would not raise any competition concerns due to its limited impact on the European Economic Area.