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European Commission Clears Stolt-Nielsen, NYK Acquisition of Avenir LNG

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The European Commission on Tuesday approved the joint acquisition of Avenir LNG by Stolt-Nielsen and Nippon Yusen Kabushiki Kaisha under the EU Merger Regulation.

Stolt-Nielsen of Bermuda and Japan's Nippon Yusen Kabushiki Kaisha will jointly control Avenir LNG, with the deal covering LNG supply to off-grid industries, power generation and transport fuel markets.

The commission found no competition concerns because the joint venture has negligible activities in the European Economic Area, limiting its competitive impact in the region.

The European Commission reviewed the transaction under its simplified merger procedure and cleared the acquisition.

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