April 2 (SeeNews) - The European Commission said it has approved the entry of French investment management company Mirova into the capital of Croatia's Zagreb Airport International Company (ZAIC).
The Commission examined the transaction as part of the simplified merger control procedure and concluded that the concentration would not raise competition concerns, given its limited impact on the market structure, it said in a statement on Monday.
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On March 5, the Commission received notification of a proposed concentration under which Mirova and French group Bouygues acquire joint control of the whole of ZAIC, it said last month.
ZAIC will also remain under the joint control of the International Finance Corporation (IFC), Turkey's TAV Airports Holding, as well as France's Aeroports de Paris Management, Bouygues Batiment International and Marguerite Fund, the Commission said.
Mirova is an affiliate of Natixis Investment Managers, the international corporate and investment banking, asset management, insurance and financial services arm of French banking group Groupe BPCE.
In April 2012, UK-based ZAIC signed a 30-year concession contract with the Croatian government for the expansion of Zagreb airport that includes financing, designing and construction of a passenger terminal to replace the existing outdated one.