30 August 2018
The Finnish Competition and Consumer Authority (FCCA) approved on 30 August 2018 an arrangement whereby Shiphold Ltd’s sole control of Maritime Group Ltd becomes shared control between Shiphold Ltd and Oaktree Capital Group LLC. The FCCA has concluded that the acquisition will not significantly impede effective competition in the Finnish market.
Oaktree Capital Group LLC is an investment company that operates globally under the control of Oaktree Capital Group Holdings GP LLC. The group has investments in businesses in several industries. Shiphold Ltd is a holding company that exercises control, for example, over several companies offering maritime and aviation services. OSM Maritime Group Ltd provides various services to shipowners and offshore operators via its subsidiaries.
The FCCA’s assessment is that the acquisition does not essentially impede effective competition in the Finnish market, as the arrangement does not significantly alter the structure of the market in any sub-markets relevant to the acquisition.
The FCCA’s decision includes business secrets of the parties involved. The decision cannot be published until the business secrets have been removed.
Further information: Research Officer Jenna Huttu, tel. +358 29 505 3576, firstname.lastname@kkv.fi
According to the Competition Act, the FCCA must be notified of the transaction if the combined turnover of the parties to the corporate transaction exceeds 350 million euros and the turnover from Finland of at least two of the parties exceeds a combined total of 20 million euros. The FCCA will approve a corporate transaction if it has none of the harmful impacts referred to in the Competition Act. The FCCA will intervene in corporate transactions if its investigations suggest that the acquisition substantially impedes effective competition on Finnish markets or a substantial part of the markets, particularly through the creation or reinforcement of a dominant market position.
Read more about merger control.