Press Release: Mergers: Commission approves merger of activities of North Sea and Argos Groeps in petroleum sector

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of joint control over North Sea Group Beheer B.V. by Reggeborgh Invest B.V. and Argos Energy Group B.V., both of the Netherlands, following a transfer of shares of their respective subsidiaries North Sea Group and Argos Groep. The Commission concluded that the proposed transaction would not raise competition concerns because of the parties' relatively moderate market shares and the presence of a number of credible competitors in the markets concerned.