The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Avenir LNG Ltd by Stolt-Nielsen Ltd (SNL), both of Bermuda, and Nippon Yusen Kabushiki Kaisha (NYK) of Japan.
The transaction relates primarily to the supply of LNG to the off-grid industry, power generation, and transport fuel sectors.
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. The notified transaction was examined under the simplified merger review procedure.