The European Commission has approved the acquisition of joint control over Belgium-based PSA Breakbulk NV and Coil Terminal NV by Singapore’s PSA International and Austria’s Felbermayr Holding.
Felbermayr shall acquire from PSA shares of PSA Breakbulk in order to hold for 50% of said company, and Coil Terminal shall merge with PSA Breakbulk.
“The Commission concluded that the proposed acquisition would raise no competition concerns given its limited impact on the market,” the EC said in a statement.
PSA Breakbulk and Coil Terminal are general cargo handlers in the Port of Antwerp, Belgium, with a focus on steel products. PSA is a global operator of shipping terminals mainly active in the provision of stevedoring services at ports, with a particular focus on terminal services for container liner ships.
Felbermayr is a diversified holding company active in transport and lifting technology, building and construction, and maritime logistics services mainly within the European Economic Area.
On 10 May 2021, the EC was notified that PSA, through PSA Antwerp NV, and Felbermayr, through Haeger & Schmidt Logistics Belgium NV, submitted a request for the joint control of the newly established MergeCo, containing PSA Breakbulk NV and Coil Terminal NV.
• Felbermayr is active in Transport and Lifting Technology, Building and Construction, and Maritime Logistics Services mainly inside the EEA and to a limited extent outside the EEA and its subsidiary Haeger & Schmidt offers a comprehensive logistics portfolio in the EEA.
• PSA is a global operator of shipping terminals mainly active in the provision of stevedoring services at ports with a particular focus on providing terminal services for container liner ships. PSA is also active in the logistics sector in- and outside the EEA. PSA is headquartered in Singapore and is ultimately owned by Temasek Holdings (established in Singapore), the sovereign wealth fund of the Republic of Singapore.
• PSA Breakbulk is a general cargo handler active in the port of Antwerp, Belgium. Coil Terminal also handles coils and general cargo in the port of Antwerp, Belgium and is specifically designed for the handling of steel products.
