The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Japan-based Mitsubishi HC Capital (MHC), Thailand-based Bangkok Mitsubishi HC Capital (BMHC) and France-based ALD.

The joint venture will operate the multi-brand operational leasing and fleet management business in Thailand contributed by BMHC. MHC offers finance leases, operating leases and vehicle and property leases. BMHC is controlled by MHC and operates finance leasing, operating leasing, hire purchase and vehicle leasing services. ALD is a provider of vehicle leasing and related fleet management services.

The Commission concluded that the proposed concentration would not raise competition concerns, given its very limited impact on market structure. In particular, the joint venture will have no activities in the European Economic Area.

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