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EC Statement: Mergers - Commission approves proposed joint venture between Hochtief and GeoSea

( August 30, 2011, 16:45 GMT | Official Statement) -- MLex Summary: The European Commission has cleared plans by German Hochtief and Belgian GeoSea to acquire joint control over Beluga Hochtief Offshore, a proposed joint venture for the development and construction of special-purpose vessels.Full statement follows. Mergers: Commission approves proposed joint venture between Hochtief and GeoSea Brussels, 30 August 2011 - The European Commission has cleared under the EU Merger Regulation the proposed acquisition of joint control over Beluga Hochtief Offshore (BHO) by the German company Hochtief, currently its sole owner, and the Belgian company GeoSea. The Commission examined the horizontal overlaps between the parties' activities in the renting of specialised vessels to the offshore industry and a potential vertical relationship between this activity and the downstream market for the engineering, procurement, construction and installation of offshore facilities where both Hochtief and GeoSea are active....

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