(News Bulletin 247) – The European Commission announces that it has authorized the creation of a new joint venture between Saudi Aramco Development Company (‘SADCO’) and Deutsche Post AG, the German parent entity of Deutsche Post DHL Group.
The joint venture will provide sourcing and logistics services in Saudi Arabia and the broader Middle East and North Africa region.
In particular, it will offer inventory, storage, warehouse and transport management and optimization services, as well as the supply of inventory items on behalf of customers.
SADCO is controlled by the Saudi Arabian Oil Company (‘Saudi Aramco’) and is principally engaged in the prospecting, exploration, drilling and extraction of hydrocarbon substances, as well as their processing, manufacturing, refining and marketing.
DPDHL is a global logistics group that operates under the Deutsche Post and DHL brands.
The Commission concluded that the proposed acquisition would not raise any competition concerns, as the joint venture will not carry out any activity in the European Economic Area.
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