The Service of the Commission for the Protection of Competition has received a notification of α concentration by Investment Corporation of Dubai, regarding the acquisition of the freight forwarding business of Inchcape Shipping Services Holdings Limited.
Investment Corporation of Dubai («ICD») is a limited liability company, an entity established by decree in the Emirate of Dubai. ICD is the principal investor of the Government of Dubai, established under a mandate to consolidate and manage the Government of Dubai’s portfolio of commercial companies and investments, which are active across a broad spectrum of sectors such as, finance and investment, transportation, energy and industry, real estate and construction, hospitality and leisure, as well as retail.
The target in this merger is an integrated business which consists of assets, employees, contracts and shares in trading companies and which all provide cargo and freight forwarding solutions and supportive services to its clients.
Inchcape Shipping Services Holdings Limited is a private limited company, duly registered under the laws of England and operates in the field of freight forwarding, providing solutions and supporting services to its clients.