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The EU commission closes the investigation deepened on the acquisition of Tirrenia by the CIN
A new regarding transaction Honored possible Participation and new investor - it has specified Brussels - will have to be notified to the Authority of competent competition
April 27, 2012
The EU commission has announced today the closing of the investigation deepened on the acquisition of a branch of company of the Tirrenia group by the network Italian Company of Navigation (CIN) as a result of the escape from joint venture of two of the three participants. CIN in fact is abandoned by Grimaldi Company of Navigation and Marinvest (holding that MSC controls Cruises, GNV and SNAV), with Honored Participation (that the Moby company controls) remained which only shareholder.
Brussels therefore has decided the stop to the under way investigation at the beginning of this year ( on 19 January 2012) and it has specified that a new regarding transaction Honored possible Participation and new investor will have to be notified to the Authority of competent competition.
The EU commission, to conclusion of the preliminary investigation, had expressed series worries on the conformity to the norms in matter of competition of the proposal of purchase notified from CIN on November 21, 2011, in particular because Tirrenia and CIN stopped consisting market shares jointly on numerous Italian marine routes and, in the specific one, on some routes from and towards the Sardinia to damage - it had emphasized the Commission - of million passengers.
The EU commission has remembered that Tirrenia is involved in numerous other cases of aids of State currently to the sieve of the Commission and regarding, in particular, the conditions of the future privatization and the obligations of public service.
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The EU commission has announced today the closing of the investigation deepened on the acquisition of a branch of company of the Tirrenia group by the network Italian Company of Navigation (CIN) as a result of the escape from joint venture of two of the three participants. CIN in fact is abandoned by Grimaldi Company of Navigation and Marinvest (holding that MSC controls Cruises, GNV and SNAV), with Honored Participation (that the Moby company controls) remained which only shareholder.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
