The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Atlas FRM LLC (‘Atlas Holdings’) and KPS Capital Partners, LP (‘KPS’), both of the US.
The transaction relates primarily to the manufacture of batteries and accumulators and the recovery of materials.
The Commission concluded that the notified transaction would not raise competition concerns, given that the joint venture has negligible activities in the European Economic Area and the companies’ limited combined market position resulting from the proposed transaction. The notified transaction was examined under the simplified merger review procedure.
