March 20, 2012 / 8:33 AM / 5 years ago

Mabanaft buy of bunker trader Bominflot cleared in EU

BRUSSELS, March 20 (Reuters) - Germany's Mabanaft won EU approval on Tuesday to buy independent bunker fuel trader and supplier Bominflot to combine their bunkering business.

The European Commission said in a statement that the acquisition did not raise significant competition concerns as it would not alter the existing market structure.

"The Commission found that the proposed merger would not alter the competitive conditions in the relevant markets," the EU competition watchdog said in a statement.

Bunkering typically refers to the trading and supplying of marine fuels.

Mabanaft, the trading division of Germany's Marquard & Bahls, has been active in the bunkering business over the past 15 years through its subsidiary Matrix Marine, operating in the U.S. Gulf Coast, Singapore, Oman and India.

Hamburg-based Bominflot covers activities ranging from cargo trading to the supply of bunker fuels to the shipping industry. (Reporting by Foo Yun Chee, editing by Charlie Dunmore)

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