Proposed acquisition of SCCPL moves into phase 2 regulatory review

Can take up to 24 weeks.

The Competition Commission of Singapore (CCS) has completed the Phase 1 review of the proposed acquisition by SATS Airport Services Pte. Ltd. (SAS) and SATS-Creuers Cruise Services Pte. Ltd. (SCCS) of Singapore Cruise Centre Pte. Ltd. (SCCPL).

The review is moving to phase 2 since CCS was unable to conclude that the proposed acquisition would not raise competition concerns based on information furnished during the phase 1 review.

The merger will proceed to phase 2 review upon receipt of Form M2 by the parties involved, said CCS. The phase 2 review can take up to 24 weeks to complete, and will entail a more detailed and extensive examination of the effects of the merger. At the end of the phase 2 review, CCS said it will decide whether to issue a favourable or unfavourable decision.

SCCS manages and operates Marina Bay Cruise Centre Singapore and SCCPL manages and operates the International Passenger Terminal at Harbourfront Centre.

The competiion review was made in accordance to the section 54 of Singapore's Competition Act which prohibits mergers that have resulted, or may be expected to result, in a substantial lessening of competition within any market in Singapore.