Abu Dhabi MAR Group and ThyssenKrupp Marine Systems won EU regulatory approval on Tuesday for a deal that combines some of their civil and naval ship-building and repair operations. Abu Dhabi MAR, which owns shipyards in Germany and the United Arab Emirates, and ThyssenKrupp Marine, a division of Germany's ThyssenKrupp AG, notified the European Commission of their plans in July 2010.
"The concentration does not raise any competition concerns," the European Commission said in a statement. Under the deal, Abu Dhabi MAR will buy Thyssen's civil ship building business. The two firms will also create a joint venture in the naval ship-building business, but it will not include submarines.
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