Santander: EU approves joint venture creation

(CercleFinance.com) - The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Banco Santander of Spain and Pemberton Asset Management Hldg.
Ltd ('Pemberton') of Jersey. Ltd ('Pemberton') of Jersey.

The transaction mainly concerns the market for contract logistics services.

The Commission has concluded that the notified transaction would not raise competition concerns, given that the joint venture has negligible activities in the European Economic Area, and given the limited combined market position of the companies resulting from the proposed transaction.


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