Mergers: EU Commission clears creation of a joint venture by Indomobil, Mitsui, and PTL

 

The European Commission has approved, under the EU Merger Regulation, the creation of a greenfield joint venture in Indonesia by PT Indomobil Sukses International (‘Indomobil’) of Indonesia, Mitsui & Co Ltd. (‘Mitsui’) of Japan and Penske Truck Leasing CO (‘PTL’) of the US. The joint venture will provide commercial vehicle leasing services in Indonesia. Indomobil is a vehicle manufacturer and provider of transportation and vehicle rental services. Mitsui is active in business management and project development. PTL provides transportation and supply chain services. The Commission concluded that the proposed acquisition would raise no competition concerns, given its limited impact on the market. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10698.

www.ec.europa.eu