Mergers: Commission clears joint venture between Mitsubishi UFJ Lease & Finance and Macquarie Bank
Daily News 26 / 01 / 2021
Source: European Commission Spokesperson's Service
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of a company constituting a joint venture by Mitsubishi UFJ Lease & Finance Company Limited (‘MUL') of Japan and Macquarie Bank Ltd (‘MBL') of Australia. The joint venture is active in Australia in the equipment finance market. This includes general office equipment as well as computing equipment. It also provides asset financing and leasing facilities for office and technology assets to enterprise customers, with a focus on corporates, universities and government entities. MUL is a multi-service group with activities related to, among other, leasing and finance, rental, used equipment trading, sales support financing, asset management services, real estate, environment and energy, healthcare, and infrastructure and investment. MBL, a subsidiary of Macquarie Group Limited, is a global diversified financial group. It acts primarily as an investment intermediary for institutional, corporate and retail clients and counterparties around the world. The Commission concluded that the proposed acquisition would raise no competition concerns, given that the joint venture will have negligible 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.10077.