Acquisition of Nagico Road & Claims Services N.V. by 2 Fast 4 U Company VBA
On April 26, 2024, The Aruba Fair Trade Authority (AFTA) received a notification from 2 Fast For U Company VBA (2Fast4U) regarding a potential concentration according to the Article 3.1, paragraph 1 of the Competition Ordinance.
2Fast4U is a company that provides towing and roadside towing services, as well as roadside assistance services in the Aruban market. The notification indicates that a share purchase agreement has been drawn up between Nagico Dutch Caribbean B.V. (seller), Nagico Road & Claims Services N.V. (NRCS) (acquired company), and 2Fast4U (buyer). This agreement entails the sale of all shares of NRCS, a subsidiary of Nagico Dutch Caribbean B.V., to 2Fast4U.
Activities of the involved company
According to the notification, the involved companies carry out the following activities:
2Fast4U
provides towing and roadside towing services, as well as roadside assistance services to local individuals and businesses.
NRCS
is part of Nagico Dutch Caribbean B.V. and offers towing and roadside towing services, roadside assistance services, as well as traffic accident registration services exclusively to customers of Nagico Aruba N.V.
NRCS is licensed to provide traffic accident registrations. With the acquisition of NRCS, 2Fast4U has the opportunity to enter the traffic accident registration market and expand its services. This enables 2Fast4U to offer the traffic accident registration product to other insurers in the Aruban market.
Relevant markets
According to the notification, the relevant product markets are the market for towing and roadside towing services, the market for roadside assistance services, and the market for traffic accident registration. The relevant geographic market is limited to Aruba.
AFTA's powers in concentrations
AFTA carries out its tasks in accordance with the Competition Ordinance. Although the Competition Ordinance does not grant AFTA the authority to block acquisitions, mergers, and joint ventures, it does require that significant acquisitions, mergers, and joint ventures be notified to AFTA prior to their completion. AFTA will assess whether the transaction reported by 2Fast4U falls within the scope of Article 3.1 of the Competition Ordinance. This notification is made in accordance with Article 3.2, paragraph 2 of the Competition Ordinance and has been published in the Landscourant of Aruba.