The European Commission has approved the creation of a joint venture between Renault and Minth Group Limited, a specialist in the manufacture of car parts domiciled in the Cayman Islands.

The joint venture will be based in France and will supply shells for electric car batteries in Belgium, France and the UK.

The European Commission has concluded that the proposed concentration would not raise competition concerns, 'given that neither of the parties nor the joint venture are currently engaged in commercial activities on the same market, or on vertically connected markets'.

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