Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  18.5.2022  
C(2022 ) 3396 final  
PUBLIC VERSION  
Applied Materials Inc . 
3050 Bowers Avenue  
Santa Clara, CA 95054 -3299  
United States  of America  
 
Franklin Investments Pte. Ltd.  
60B Orchard Road, #06 -18, Tower 2  
The Atrium @ Orchard  
Singapore, 23889  
Singapore  
Subject : Case M. 10683  – APPLIED / TEMASEK / JV  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of  the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 25 April  2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the 
undertaking s Franklin Investments Pte. Ltd. (‘Franklin’, Singapore), ultimately 
controlled by Temasek Holdings (Private) Limited (‘Temasek’, Singapore), and 
Applied Materials Inc. (‘Applied’, USA), a public company with a widely dispersed 
share ownership and not contro lled by any third party, intend  to acquire within the 
meaning of Article s 3(1)(b)  and 3(4)  of the Merger Regulation joint control of a newly 
created company, Valaya Pte. Ltd., (‘JV’, Singapore) , constituting a joint venture , by 
way of purchase of shares .3 
2. The business activities of the undertakings concerned are:  
 Applied is a global supplier of manufacturing equipment, services and software to 
the semiconductor, display and related industries,  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used t hroughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 180, 3.5.2022, p. 15. 

2  Franklin is a global investment holding company,  
 the JV will be active in the research & development, manufacturing an d 
commercialisation of specialis ed coatings used to coat powders and parts, 
principally for pharmaceutics and commercial aviation applications.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (a) of the  Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in applic ation of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .