On 17 February 2015, the Competition Commission of Singapore (the “CCS”) cleared the proposed merger (the “Transaction”) between China CNR Corporation Limited and CSR Corporation Limited (collectively the “Parties”), both of which are established in the People’s Republic of China, and concluded that the Transaction is not likely to result in a substantial lessening of competition in the market for the supply of metro trains to Singapore. Metro trains are used in Singapore’s Mass Rapid Transit system. The Grounds of Decision will be available in due course.

The CCS found that the relevant product market is the supply of metro trains to Singapore and the relevant geographic market for the supply of metro trains is global, in view of global players, who can, and do, qualify and participate in tenders for the purchase of metro trains in Singapore. There is no local manufacturing or production of metro trains in Singapore.

The Parties notified the CCS of the Transaction on 7 January 2015. The CCS issued the clearance decision within the 30 working days period for the Phase 1 review.

Allen & Gledhill LLP was involved as Singapore antitrust counsel to the Parties in securing the clearance.

Reference materials

The following materials are available from the CCS website www.ccs.gov.sg: