The European Commission has approved under the European Union (EU) Merger Regulation the acquisition of joint control of SOCAR Aliağa Port Management Co., Ltd. (SOCAR Terminal) by SOCAR Turkey Enerji A.Ş. (STEAS) and Terminal Investment Switzerland Sàrl (“TISS”), the European Commission said.

Axar.az reports that TISS is a subsidiary of the Swiss companies MSC Mediterranean Shipping Company Holding SA and the US BlackRock, Inc.

The transaction mainly covers the provision of container terminal services in the Aliağa region of Izmir, Turkey.

The Commission concluded that the notified transaction would not raise any competition concerns, given its limited impact on the European Economic Area.