Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

1.1. This notification concerns the proposed establishment of a full-function joint venture, Cremer Sustainable Foods Pte. Ltd. (“CSF JV”), in Singapore, jointly controlled by CCC Hanseatische Beteiligungsgesellschaft mbH (“Cremer”) and Clyde Investments Pte. Ltd. (“Clyde Investments”) (the “Transaction”).

2.2. The CSF JV is a greenfield full-function joint venture to be set up in Singapore to engage in contract manufacturing and sale of plant-based intermediate and finished meat and seafood substitutes in Singapore, and subsequently in the broader South East Asia region.

3.3. Cremer is a German-based company active in the trading, processing, and transport of agricultural, raw and basic materials, as well as oleo-chemical products. Cremer’s activities include plant-based food production capabilities in Germany, Canada, and China.

4.4. Clyde Investments is an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited (“Temasek”). Clyde Investments is set up to be an operating entity under the Asia Sustainable Food (“ASF”) Platform, to engage in business activities including contract manufacturing of plant-based protein products. The ASF Platform aims to accelerate the adoption of sustainable foods (including alternative proteins), particularly in Asia.

5.5. Temasek is an investment company headquartered in Singapore which owns a SGD 381 billion (c. EUR 242 billion) portfolio (as of March 2021), mainly in Singapore and the rest of Asia. Temasek’s portfolio covers a broad spectrum of industries: financial services; telecommunications, media & technology; transportation & industrials; consumer & real estate; energy & resources; as well as life sciences & agribusiness.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.