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CCCS Provisionally Finds That Proposed Merger Is Likely To Substantially Reduce Competition Between Maritime Products Suppliers

2018, Singapore, Mergers & Acquisitions

The Competition and Consumer Commission of Singapore (“CCCS”) has issued a Statement of Decision (Provisional) (“SDP”) to Wilhelmsen Maritime Services AS (“WMS”) and Drew Marine’s technical solutions, fire, safety and rescue businesses (“Drew Marine Technical Solutions” or “DMTS”). CCCS’s provisional decision finds that the proposed acquisition by WMS of sole control over DMTS (the “Proposed Transaction”) is likely to result in a substantial lessening of competition in the market for the supply of marine water treatment chemicals (including ancillary materials and services) in Singapore, thereby infringing section 54 of the Competition Act (Cap. 50B) which prohibits anti-competitive mergers.

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