CCCS approves Typewriter Ascend’s acquisition of Global Sea Containers

The parties overlap in the supply of intermodal containers in Singapore.

The Competition and Consumer Commission of Singapore (CCCS) has cleared the proposed acquisition of Global Sea Containers Limited by y Typewriter Ascend Ltd on 19 August.

According to CCCS’ assessment, the acquisition will not infringe section 54 of the Competition Act 2004, which prohibits mergers that may lessen market competition in Singapore.

The parties overlap in the supply of intermodal containers, including dry box containers, refrigerated shipping containers, and dry freight special containers, in Singapore.

CCCS noted that the market would remain competitive even with the merger because the parties were not each other’s closest competitor and there remain many other competitors post-transaction.

The assessment showed there are alternative suppliers of intermodal containers, and customers may freely choose between suppliers. The merged entity may also be able to compete better with larger suppliers.

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