Proposed Acquisition by SIF Group Pte. Ltd and Penguin Ferry Services Pte. Ltd

Notifying Parties:

SIF Group Pte. Ltd and Penguin Ferry Services Pte. Ltd

Notifying Date:

20 April 2011

Summary of transaction:

PART 5
INFORMATION FOR THE CCS PUBLIC REGISTER
(TO BE COMPLETED BY THE APPLICANT(S))

1. The Applicants

This notification is made jointly by (1) Penguin Ferry Services Pte Ltd ("Penguin") and SIF Group Pte Ltd ("SIF") (collectively the "Parties").

2. Description of the merger

This notification concerns the proposed acquisition by SIF Group Pte. Ltd. (the “Acquiror”) of 100% of the issued and paid-up share capital of Penguin Ferry Services Pte. Ltd. (the “Target”) (the “Proposed Acquisition”).

The Target provides passenger ferry services between Singapore and, inter alia, Batam, Indonesia. The Acquiror and Target submit that the Proposed Acquisition will not lead to a substantial lessening of competition in the market for the provision of passenger ferry services between Singapore and Batam, Indonesia, because there are currently no horizontal or vertical overlaps between the Acquiror’s and Target’s businesses.

3. Relevant good(s) or service(s) involved

The provision of passenger ferry services between Singapore and Batam, Indonesia.

Decision:

The proposed merger, if carried into effect, will not infringe the section 54 prohibition.

Decision Date:

6 June 2011
Click here for the decision.