Latest Mergers and Acquisitions in Singapore

Aviation

In the aviation sector, CCCS has cleared the proposed acquisition by SATS Ltd. of WFS Global Holdings S.A.S. through their subsidiary and holding companies respectively. Parties are involved in ground and cargo handling services, and premium passenger and lounge services in various jurisdictions. It was noted that the parties did not compete in Singapore and potential competition was limited. The vertical links between the parties and the combination of the parties’ portfolios were also unlikely to present competition concerns. 

IT

CCCS also cleared the proposed acquisition AI PAVE Dutchco I B.V. of GfK SE. The parties have investments in or are directly involved in market research and media measurement services, in particular customised market research services. CCCS assessed that there would not be a substantial lessening of competition because, inter alia, customers could easily switch service providers and negotiate terms, post-merger market shares are likely to be low, the barriers to entry and the likelihood of collusion are low as well.

Chemical and Maritime

The proposed acquisition of Daewoo Shipbuilding & Marine Engineering Co. (“Daewoo”) by Hanwha Group is pending review by the CCCS. The Hanwha Group is active in various business areas including supply and trade brokerage of petrochemical products, chemical and solar modules, and financial services, and Daewoo specialises in shipbuilding and other maritime businesses, but the parties do not horizontally overlap in any market in Singapore. The consultation closed on 3 February 2023 and the review by CCCS is ongoing. 

For more information please contact Sandra Seah. 

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