EU approves biodiesel JV between Wilmar and Fox Petrolifera
The European Commission has approved under the EU Merger Regulation a Dutch joint venture (JV) company between the Singaporean Wilmar International and Italian Fox Petrolifera Italiana.
The new JV company will produce biodiesel at Fox Petrolifera’s existing biodiesel facility in Italy.
Both of the parent companies produce biodiesel and crude and refined glycerine on their own, in addition to selling palm and seed oil for biodiesel production.
The Commission concluded that the proposed acquisition would raise no competition concerns, as the companies' combined market position would remain highly limited on all involved markets and they would continue to face significant competitive pressure from various strong, multinational competitors.
The transaction was examined and approved under the simplified merger review procedure.