Four European banks received the green light from the European Union to acquire Dutch shrimp supplier Heiploeg Group.
The joint venture participants include Icelandic bank Landsbanki and Dutch banks ABN AMRO, Rabobank and Friesland Bank.
The European Commission’s investigation confirmed that the operation would not raise competition concerns because it will not significantly alter the market structure.
The EC also concluded that it would be highly unlikely for the banks’ activities to restrict competition in the EU since their activities do not overlap with Heiploeg Group and because the venture only represents a small part of the company’s portfolio and is unrelated to core activities.
Heiploeg announced in June that it successfully completed a EUR 157 million refinancing effort, allowing it greater flexibility in borrowings and repayments.
