European Commission clears acquisition of SOCAR Terminal by STEAS and TISS

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of SOCAR Aliağa Liman İşletmeciliği A.Ş. (SOCAR Terminal) by SOCAR Türkiye Enerji A.Ş. (STEAS), both of Türkiye, and Terminal Investment Switzerland Sàrl (TISS), which is jointly controlled by MSC Mediterranean Shipping Company Holding S.A., both of Switzerland, and BlackRock, Inc of the US.

Report informs, citing the commission that the transaction relates primarily to the provision of container terminal services in the Aliağa region of İzmir, Türkiye.

The European Commission concluded that the notified transaction would not raise competition concerns, given the limited impact on the European Economic Area. The notified transaction was examined under the simplified merger review procedure.