Tercat is the operator of the Barcelona Europe South Terminal (BEST), a key container handling facility within the Port of Barcelona.

The proposed transaction was notified to the European Commission under the EU Merger Regulation and entered formal Phase I review. However, TIL withdrew the notification prior to the Commission’s issuance of a final decision.

Available public information suggests that clearance by the Commission would have faced significant substantive concerns, rendering regulatory approval improbable.

As a result, the proposed acquisition of Hutchison Ports’ 50% shareholding in Tercat will not advance under the current notification.

Resource.: https://mp.weixin.qq.com/s/XvKUJXfMqcDT3kXb5FBFHw