# C_2023303EN.01000301.xml

| 28.8.2023 | EN | Official Journal of the European Union | C 303/3 |
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28.8.2023

EN

Official Journal of the European Union

C 303/3

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Prior notification of a concentration

(Case M.11193 – BAOSTEEL / SAUDI ARAMCO / PIF / JV)

Candidate case for simplified procedure

(Text with EEA relevance)

(2023/C 303/03)

1.

This notification concerns the following undertakings:

| — | Baoshan Iron & Steel Co., Ltd. (‘Baosteel’, China), a company organized and existing under the laws of the People’s Republic of China and listed on the Shanghai Stock Exchange (600019), |
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Baoshan Iron & Steel Co., Ltd. (‘Baosteel’, China), a company organized and existing under the laws of the People’s Republic of China and listed on the Shanghai Stock Exchange (600019),

| — | Saudi Arabian Oil Company (‘Saudi Aramco’, Saudi Arabia), a joint stock company established by Royal Decree No. M/8 of the KSA, |
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Saudi Arabian Oil Company (‘Saudi Aramco’, Saudi Arabia), a joint stock company established by Royal Decree No. M/8 of the KSA,

| — | Public Investment Fund (‘PIF’, Riyadh, Saudi Arabia), a Saudi Arabian sovereign wealth fund, established in 1971, and regulated by the Law of the Public Investment Fund issued pursuant to Royal Decree No. M/92 dated 12/08/1440H, |
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Public Investment Fund (‘PIF’, Riyadh, Saudi Arabia), a Saudi Arabian sovereign wealth fund, established in 1971, and regulated by the Law of the Public Investment Fund issued pursuant to Royal Decree No. M/92 dated 12/08/1440H,

| — | A newly created integrated steel plate manufacturing joint venture company (‘JV Company’, Saudi Arabia). |
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A newly created integrated steel plate manufacturing joint venture company (‘JV Company’, Saudi Arabia).

Baosteel, Saudi Aramco and PIF will acquire within the meaning of Article 3(1)(b) and Article 3(4) of the Merger Regulation joint control of the JV Company.

The concentration is accomplished by way of purchase of shares in a newly created company constituting a joint venture.

2.

| — | Baosteel mainly engages in iron and steel manufacturing, processing and distribution, information technology, the carbon industry and finance business, |
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Baosteel mainly engages in iron and steel manufacturing, processing and distribution, information technology, the carbon industry and finance business,

| — | Saudi Aramco is primarily engaged in prospecting, exploring, drilling and extracting hydrocarbon substances and processing, manufacturing, refining and marketing these substances, |
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Saudi Aramco is primarily engaged in prospecting, exploring, drilling and extracting hydrocarbon substances and processing, manufacturing, refining and marketing these substances,

| — | PIF is a sovereign wealth investment fund that has direct and indirect investments in a number of sectors across Saudi Arabia and globally, including food and agriculture, energy, financial sector, manufacturing, real estate, logistics and digital sectors. |
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PIF is a sovereign wealth investment fund that has direct and indirect investments in a number of sectors across Saudi Arabia and globally, including food and agriculture, energy, financial sector, manufacturing, real estate, logistics and digital sectors.

3.

The business activities of the JV Company will be manufacturing and supply of Direct Reduced Iron (‘DRI’) and heavy steel plates to third parties and to Saudi Aramco, PIF and their affiliates under long-term supply agreements, primarily in the KSA, followed by countries in the Gulf Cooperation Council (‘GCC’) and the region of Middle East and North Africa (‘MENA’).

4.

Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

5.

Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.11193 – BAOSTEEL / SAUDI ARAMCO / PIFIl faut INSERER des espaces avant et apres le slash ‘/’, svp de verifier sur toutes les VLsJV

Observations can be sent to the Commission by email or by post. Please use the contact details below:

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:

| European Commission |
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| Directorate-General for Competition |
| Merger Registry |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

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(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

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(2)  OJ C 366, 14.12.2013, p. 5.

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