MSC and NYK will establish a joint venture, focusing on air and sea freight forwarding services in Africa.
According to the merger and acquisition case registration information of the European Commission, the EU has approved the establishment of a joint venture between Mediterranean Shipping Company (MSC) and Nippon Yusen Kaisen (NYK), focusing on air and sea freight forwarding business in Africa. The official name of the joint venture has not yet been announced.
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It is learned that the transaction was approved through the simplified review procedure under the EU Mergers and Acquisitions Regulation, with the case number M.12166 "MSC/NYK/JV", and was published in the daily bulletin of the European Commission on December 2nd.
The European Commission stated that as the deal has limited impact on the European Economic Area (EEA) and "will not raise competition concerns", the simplified assessment procedure for accessible mergers and acquisitions is therefore applicable.
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It is understood that this new joint venture will be registered and established in Kenya, Africa, providing air and sea freight forwarding services for multiple African countries.
MSC and NYK will establish an African air and sea freight forwarding platform based in Kenya. Relying on MSC's sea freight network and NYK's freight forwarding and contract logistics operation capabilities, they will provide end-to-end logistics services for shippers in cross-border and regional markets.