EU approves French-Chinese JV

The European Commission has approved a joint venture between CMA CGM (France) and CIMC Neocontainer (China).

On 7 January 2020, CMA CGM and CIMC Neocontainer notified the European of their intention to acquire joint control of a newly created joint venture by way of purchase of shares.

The purpose of the joint venture being the provision of services in container storage management, container handling and container repair, exclusively in Tianjin port in China. 

After examining the case, the European Commission decided not to oppose the joint venture and to declare it compatible with the internal market and with the EEA Agreement.

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