Brussels, 26/10/2000 (Agence Europe) - The European Commission sent a warning to Hutchison Atlantic (part of the Hitchison Whampoa group) and to the Rotterdam Municipal Port Management (RMPM), which did not notify it of the joint acquisition of control over Europe Combined Terminals BV (ECT). On 10 March 1999, Hutchison and RMPM informed the Commission of their intention to acquire joint control of ECT, main operator of container terminals in the port of Rotterdam. This operation was notified as a concentration in accordance with Community regulations relating to the control of concentrations. The Commission having expressed serious concerns over the effect of the transaction of the structure of the market for stevedoring services to deep-sea container ships in Northern Europe, the parties had decided to abandon the project. The 2 November 1999, Hutchison and RMPM, accompanied this time by ABN Amro Effecten Compagnie (Dutch banking group ABN Amro) notified a new agreement in virtue of which they proposed to jointly buy all of the ECT shares, operation that was not notified as a concentration, but as an agreement for cooperation, the aim being to obtain an exemption from the obligation for notification. On 7 March 2000, the Commission sent a letter to the parties inviting them to take steps, invitation that remained unanswered.
The Community executive thus decided to send the two parties a statement of objection that followed an in-depth investigation including an examination of internal noted and the parties correspondence. In fact the Commission feels that this second plan does not fundamentally differ from that examined in 1999: Hutchison and RMPM have a joint control over ECT as sole strategic investors in this company, the role of ABN Amro was limited to financing the project. The parties now have the duty of answering in writing and the Commission, after examination, will adopt a final decision, possibly attached to a fine.