European Council approves AP Moller’s acquisition of a 30 percent stake in the German container terminal

The Europe an Council has cleared AP Møller’s acquisition of a 30 percent stake in a container terminal under construction in the German port of Wilhelmshaven.
German terminal operator Eurogate has the concession to run the JadeWeserPort when it opens for business in 2012, and under the sale terms, AP Møller subsidiary APM Terminals would take on joint liability for Eurogate's future obligations at the terminal.
In return, 49 percent of the terminal's capacity would be dedicated to APM Terminals and its affiliates, including Maersk Line.
The EC said despite the close relationship between APM Terminals and Maersk Line, and the carrier's high market share of container traffic into northern Europe, "the total volumes concerned were rather low compared with the total volume on the trades to and from northern Europe on the one hand, and of the area's container handling capacities on the other".
The commission said the expected low market share of JadeWeserPort also eliminated concerns of commercial collusion between Eurogate and APM Terminals, and that no such activities had been seen at its joint-venture North Sea Terminal at Bremerhaven.