Reed Smith Client Alerts

Key takeaways

  • On 3 June 2024, the European Commission (the Commission) published its decision in relation to the acquisition of Bolloré Logistics SE (Bolloré) by CMA CGM S.A. (CMA CGM) (the Transaction). The Transaction was cleared with conditions by the Commission on 23 February 2024 and the full decision is available for review.
  • The decision largely reaffirms the Commission’s approach to geographical market definition in the liner shipping services sector, but also presents peculiarities, some of which can be explained by France’s unique geography.

Autoren: Marjorie C. Holmes Emma Weeden Charles Sauvage Jos Maesen, Félicia Mitsingou

Introduction

The Commission considered that, as a result of the Transaction, CMA CGM, a global shipping company, and Bolloré, active in the downstream logistics sector, would be able to foreclose certain markets. CMA CGM made commitments to address the concerns that would be brought about by the vertical integration of the parties, specifically in relation to: (i) CMA CGM’s upstream container lining shipping activities on routes connecting Europe with Martinique, Guadeloupe and French Guiana (where CMA CGM has a particularly high market share in upstream markets) and (ii) Bolloré’s downstream freight-forwarding activities in those territories.