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, 10.5.2019  
C(2019 ) 3700 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M. 9304 — Tenaris/Severstal/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 10 April 2019 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  Tenaris S.A. 
(Luxembourg) and PAO Severstal (Russian Federation) acquire within the meaning of 
Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Joint Venture Company 
(Singapore)  by way of purchase of shares in a newly created company constituting a jo int 
venture.3 
2. The business activities of the undertakings concerned are:  
 for undertaking Tenaris S.A: manufacture and supply of seamless and welded tubular 
products and related services for the oil and gas industry , 
 for undertaking PAO Severstal: mining an d the manufactu re and supply of steel 
products,  
 for undertaking Joint Venture Company: building and operating a plant in the Russian 
Federation for the manufacture and supply of certain types of tubular products for the 
oil and gas industry in the Russian Federation and in the Commonwealth of 
Independent States.  
                                                 
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 
throughout 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 142, 23.4.2019 , p. 26. 

2 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 application of 
Article 6(1)(b) of the Merger  Regulation  and Article 57 of the EEA Agre ement . This 
decision is without prejudice to the EU restrictive measures imposed in response to the 
crisis in Ukraine, and in particular the provisions applicable to goods in Annex II to 
Council Regulation (EU) No 833/2014.  
For the Commission  
 
 
(Signed)  
Johannes LAITENBERGER  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .