Zurich and logistics firms dominate EU merger approvals under simplified reviews
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The European Commission has cleared five mergers and acquisitions under the EU Merger Regulation, including Zurich Insurance Group's takeover of UK insurer Beazley and a joint purchase of a logistics property in Bönen, Germany, by Prologis and NBIM. Zurich Insurance Group of Switzerland was approved to acquire sole control of Beazley plc of the UK, a deal centred on insurance products and services, according to the Commission's announcement published on Tuesday. The Commission said it found no competition concerns because the companies' market positions would remain limited, and reviewed the case under its simplified procedure. Prologis, L.P. of the US and NBIM Nerva S.à r.l. of Norway were also cleared to take joint control of a logistics property in Bönen, Germany, in a transaction focused on logistics real estate. That deal was also assessed under the Commission's simplified merger review procedure, with the regulator again citing limited combined market positions. Oak Hill Capital Management and The Carlyle Group, both of the US, received approval to acquire joint control of Wyyerd Group Holdings, a business linked to high-speed fibre optic networks in the US, the Commission said. T-Mobile USA and Oak Hill Capital Management were separately cleared to acquire joint control of Greenlight HoldCo and Future Fiber Holdings - also known as GoNetSpeed - which provide...
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