EC approves acquisition of SNCM by Veolia and Butler
Brussels, Belgium – The European Commission has cleared under the EU Merger Regulation the acquisition of joint control of SNCM by the Veolia Transport group and the investment fund management company Butler Capital Partners, all three of which are French-owned. After investigating the operation, the Commission has concluded that it will not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
Société Nationale Maritime Corse Méditerranée (SNCM), which until now has been controlled by the French State, is mainly active in the transport of passengers and freight between mainland France (operating out of the ports of Marseille, Nice and Toulon) and Corsica, Algeria, Tunisia and, occasionally, Sardinia. SNCM is party to a public service delegation agreement with the Corsican regional authorities on sea transport between the mainland and Corsica.
The principal business of Veolia Transport is the operation of passenger transport services on behalf of local, regional and national authorities. It runs mainly road and rail networks, offering sea transport services as a sideline. Veolia Transport is a subsidiary of Veolia Environment, which groups together, besides the transport division, water treatment, energy services and waste management businesses.
BCP manages various investment funds.
The operation will not bring about any change in the competitive situation, whether in the market for passenger sea transport services or in that for freight sea transport services (more commonly known as ferry activities). BCP is not at all active in these markets, while Veolia Transport, which is active only in passenger sea transport services, does not do business in the same geographic area as SNCM.
Further information on the case will be available on the Europa website: