EC CLEARS EXEL/MSAS MERGER
The European Commission has cleared the merger of the British logistics and transport groups Ocean Group Plc, the parent company of MSAS, and Exel Plc, formerly NFC Plc.
The EC said that the merger will create the leading provider in the logistics sector in the United Kingdom, but its overall share of the market will be low and there will still be other strong service suppliers in the U.K.
Following the merger, Ocean and Exel will have shares of between 15percent and 25 percent of the logistics sector in Ireland and the U.K., and lesser shares in other European countries.
Competitors and customers consulted by the EC did not express any concern with regard to the concentration move, a spokesman for the Commission said.