The European Commission on Wednesday revealed it has approved the creation of a joint venture by Barloworld Handling Limited of the United Kingdom and BayWa Aktiengesellschaft of Germany, under the EU Merger Regulation.
Barloworld Handling belongs to the South African Barloword group which produces earth-moving, power systems, materials handling and agricultural equipment, automotive and logistics services.
BayWa is a German group active in agriculture, building materials and energy.
The joint venture will distribute agricultural machinery and parts, and provide related services in Zambia at first, and may become active in other Sub-Saharan areas.
The Commission concluded that the proposed acquisition would raise no competition concerns because the joint venture will have no or negligible activities within the European Economic Area (EEA).
The transaction was examined and cleared under the simplified merger review procedure.
