Singapore OK with acquisition by BRC Asia of Lee Metal Group
Following a review of the Proposed Transaction, CCCS concluded that the Proposed Transaction, if carried into effect, will not infringe the section 54 prohibition of the Competition Act.
CCCS is of the view that the relevant markets for the purpose of assessing the proposed transaction are those for the processing and distribution of Rebars and Cut & Bend; Mesh; and Prefab, in Singapore.
At the end of the consultation process and after a holistic evaluation of the submissions, feedback and evidence, CCCS concluded that, on balance, the proposed transaction, if carried into effect, will not lead to a substantial lessening of competition within the relevant markets in Singapore. ■