Mergers: Commission clears creation of joint venture by Mitsubishi Corporation and Mitsubishi HC Capital

Daily News 21 / 03 / 2023


Economy - published on 23 March 2023


https://www.trevisobellunosystem.com/wp-content/uploads/2023/03/EU_Commissione_Europea-1.jpg

Source: European Commission Spokesperson’s Service

 

 

The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Mitsubishi Corporation (‘MC’) and Mitsubishi HC Capital Inc. (‘MHC’), both of Japan.

The joint venture will operate auto leasing, buying and selling, as well as vehicle management-related services in Japan. MC is a trading company active worldwide across a variety of industries, including automotive and mobility. MHC is active worldwide in the provision of financial services including, among others, auto, finance and real estate leases, as well as operating leases focused on asset values.

The Commission concluded that the proposed acquisition would raise no competition concerns, given that the joint venture has no current or foreseen activities in the European Economic Area. The transaction was examined under the simplified merger review procedure.

More information is available on the Commission’s competition website, in the public case register under the case number M.11045.

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