Under Armour: EU clears acquisition of Dome
(CercleFinance.com) - Under EU Merger Regulations the European Commission has cleared the acquisition of joint control of Dome Corporation by Itochu Corporation, both from Japan, and Under Armour Europe of the Netherlands.
Dome is active in the sale, distribution and advertising of Under Armour branded sportswear and footwear in Japan. Meanwhile Itochu is active in a wide range of industries, including textile manufacturing. Under Armour, currently a shareholder of Dome, is a publicly traded company active in the development, marketing and distribution of sports-related clothing, footwear and accessories.
The Commission concluded that the proposed acquisition would not raise competition concerns given Dome's limited planned activities in the European Economic Area.
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