Martijn van de Hel and Adriaan Craita have successfully assisted Ingka in obtaining approval from the European Commission to enter into a joint venture, in the form of Morssinkhof Plastics, with Morsano. Prior to the transaction, Morsano was the controlling shareholder of Morssinkhof.
Ingka's operations can be divided into three main divisions: (i) Ikea Retail, consisting of the operation of IKEA stores as a franchisee of the IKEA concept; (ii) Ingka Centres, which creates and operates shopping centres around the world, and (iii) Ingka Investments, which carries out investments related to business development and digitalization, wind and solar energy solutions, the provision of circular resources, forestland, real estate and financial markets.
Morssinkhof is a provider of mechanical and chemical plastic recycling services, enabling sustainable use of raw materials. As such, Morssinkhof is a producer of high-grade recycled raw materials and sustainable customer products.
The intention to enter into joint venture was notified to the Commission on 30 August 2023 and approved by the Commission on 26 September 2023.
The transaction was also notified to the Serbian competition authority. To this end, Maverick worked closely with Schoenherr (Moravčević Vojnović i Partneri).
Ingka was advised by Vriman M&A Lawyers regarding the M&A transaction.
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