Brussels, 17/02/2009 (Agence Europe) - On Wednesday 18 February 2009, the European Commission approved the plan to set up a joint venture between UK aircraft engine manufacturer Rolls Royce and United Arab Emirates investment fund Mubadala.
Under the deal, Rolls Royce and Mubadala will set up a new joint venture supplying maintenance, repair and inspection services for aircraft engines, mainly in North Africa and the Middle East. The Commission's investigation showed that there would only be a limited overlap on the aircraft engine maintenance market where Mubadala subsidiaries are already present. Rolls Royce and Mubadala subsidiaries do not compete directly for most of their maintenance services because they service different types of engines and so the Commission decided that the planned venture would not give rise to any significant competition concerns in the European Economic Area or any substantial part of it. (O.L. trans fl)