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

On 13 April 2023, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which Ocean Network Express Pte. Ltd. (ONE) intends to acquire joint control with Skipjack Terminal Holdings, L.P. (Skipjack) over the TraPac marine container terminal group (the TraPac group). Joint control will be obtained either through ONE’s acquisition of 51% of the equity interests of Mitsui O.S.K. Lines, Ltd. (MOL) in International Transportation, Inc. (ITI), the holding company of TraPac, LLC (TraPac), or through a combination of a higher direct ownership by ONE in ITI coupled with a direct ownership by Skipjack in TraPac. As a result of the proposed concentration, ONE and Skipjack will exercise joint control, within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation over the TraPac group.

The business activities of the undertakings concerned are set out below.

• ONE is a private limited company headquartered in Singapore. ONE operates a global container liner shipping business. ONE is wholly owned by a holding company established in Japan, Ocean Network Express Holdings, Ltd., which is a joint venture between three Japanese shipping companies, i.e. Nippon Yusen Kabushiki Kaisha, Mitsui O.S.K. Lines, Ltd. and Kawasaki Kisen Kaisha.

• Skipjack is a special purpose vehicle domiciled in Delaware (U.S.). It is ultimately controlled by Macquarie Group Limited, a global provider of financial services headquartered in Australia. Skipjack does not carry out any business activity. Following the Commission’s approval in case M.11001, Skipjack is – as of the date of filing – in the process of acquiring equity interests in ITI and TraPac, as applicable, for a total of 49% of the beneficial ownership interests in TraPac, which will be held by Skipjack directly through ownership at the TraPac level and/or indirectly through ownership at the ITI level.

• ITI is the holding company of TraPac, incorporated in Delaware (U.S.) and headquartered in California (U.S.), and which will be renamed and converted into a Delaware limited liability company as part of the Proposed Transaction.

• TraPac is a limited liability company headquartered in California (U.S.). TraPac operates marine container terminal stevedoring services at terminals in Los Angeles and Oakland (California, U.S.).

Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË - Tel. +32 22991111