EC approves TPG’s acquisition of Wilson Logistics
The European Commission has approved the proposed acquisition of Wilson Logistics Holding AB, a Sweden-based company mainly focused on freight forwarding services in the Nordic countries, by TPG N.V., the Dutch mail, express and logistics provider.
“As both companies are complementary and do not overlap, the proposed transaction does not raise any competition concerns,” the EC said today.
TPG intends to acquire Wilson through its subsidiary TNT Forwarding Holding AB. Wilson Logistics provides air and sea freight forwarding services and, to a lesser extent, contract logistic solutions, mainly in the Nordic countries.
The EC said its analysis covered the markets for logistics and freight forwarding services in Europe. Taking into consideration the existence of other important suppliers in these markets, TPG and Wilson “will not have a particularly strong position in any of the European markets,” the EC said.
In addition, given that TPG is primarily focused on logistics and Wilson on freight forwarding services, the proposed concentration is not expected to raise any competition concerns, according to the Brussels-based body.
TPG announced June 11 the proposed purchase of Wilson for about
SEK2.35 billion ($310 million). The takeover of one of the remaining large European independent forwarders marks TPG’s effective entry in the competitive international freight forwarding field, already occupied by fellow European postal group Deutsche Post.