European Commission - Daily News
Brussels, 23 December 2015
The European Commission has approved under the EU Merger Regulation the proposed creation of a joint venture between KKCG PLC of Cyprus and Foxconn Technology CZ s.r.o. of the Czech Republic (belonging to Hon Hai Precision Industry Co. Ltd. of Taiwan).
KKCG is active in private investment in oil and gas, gaming and entertainment, tourism and the metal industry. The Hon Hai/Foxconn group is active in the design, development, manufacturing, assembly and after-sales services for global computer, communications and consumer electronics companies. The joint venture will provide data centre services and will primarily focus on the Czech Republic.
The Commission concluded that the proposed joint venture would raise no competition concerns, in particular because of the moderate market positions resulting from the transaction. The transaction was examined under the simplified merger review procedure.
(For more information: Lucía Caudet – Tel. +32 229 56182; Carolina Luna Gordo – Tel.: +32 229 68386)
Source: Europa.eu (Copyright European Commission)