EC APPROVES GEFCO ACQUISITION OF KUEHNE & NAGEL VENTURE
The European Commission has approved the proposed
acquisition by Gefco Deutschland GmbH, a logistics subsidiary of French car-maker Peugeot,
of a controlling share in KN ELAN GmbH & Co KG.
KN ELAN is a German trucking subsidiary of the forwarding group Kuehne
& Nagel.
The EC said that the business activities of Gefco and KN ELAN overlap
only in Germany and that the proposed merger of the two companies does not give rise to
any competition concerns.
Kuehne & Nagel will retain a minority shareholding in KN ELAN.
The EC said that many small and medium-sized businesses operate in the German freight
market alongside major companies, such as the Deutsche Post, Schenker and Dachser.