BRUSSELS (dpa-AFX) - The European Commission on Thursday said it has approved the acquisition of World Duty Free of Italy by Dufry of Switzerland, under the EU Merger Regulation.
Both companies are global travel retail companies, which operate predominately at airports in Europe, North America and Asia. The Commission concluded that the proposed acquisition would not raise competition concerns given the companies' moderate combined market positions resulting from the transaction, the presence of strong competitors and pricing constraints imposed on travel retail companies by airport operators.
The transaction was examined under the normal merger review procedure.
In another development, the Commission also approved the acquisition of Balta Finance S.ár.l of Luxembourg by Lone Star Funds belonging to the Lone Star Group of the US/Bermuda, under the EU Merger Regulation.
Lone Star is a private equity investor, while Balta manufactures and sells textile floor coverings. The Commission concluded that the proposed acquisition would not raise competition concerns because the companies' activities do not overlap. The transaction was examined under the simplified merger review procedure.
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