Mergers: Commission clears acquisition of joint control over PS Parent by Gamut and BCI

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of the whole of PS Parent, LLC of the United States by Gamut Capital Management L.P. (‘Gamut’) of the United States and British Columbia Investment Management Corporation (‘BCI’) of Canada. PS Parent is active in the transportation of freight on flatbed trailers, multi-modal freight brokerage, logistics services and warehousing services, outside of the European Economic Area (‘EEA’). Gamut is a private equity firm offering investment advisory services. BCI is an agent of the Government of British Columbia investing on behalf of public sector clients across a range of asset classes. The Commission concluded that the proposed acquisition would raise no competition concerns, because there are no horizontal overlaps or vertical relationships between the business activities of PS Parent and those of Gamut and BCI within the EEA. The transaction was examined under the simplified merger review procedure

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