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, 17.6.2022  
C(2022)  4288 final  
PUBLIC VERSION 
Mitsui & Co., Ltd.  
2-1, Otemachi 1 -chome, Chiyoda -ku 
100-8631 – Tokyo  
Japan  
 
PT CSM Corporatama  
Indomobil Tower 5th Floor, Jalan MT Haryono Kav. 11, Bidara Cina, Jatinegara  
13330 – Jakarta Timur  
Indonesia  
 Penske Truck Leasing Co., L.P.  
2675 Morgantown Road  
19607 – Reading, PA  
United States of America  
Subject : Case M. 10698 – MITSUI / INDOMOBIL / PTL / 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 20 May 2022, the  European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which Mitsui & Co., 
Ltd. (‘Mitsui’, Japan), PTS Investments LLC (‘PTS investments’, U.S.A.), a wholly -
owned subsidiary of Penske Truck Leasing Co., L.P (‘PTL’, U.S.A.) ultimately 
controlled by the Pens ke Corporation (‘Penske’, U.S.A.) and PT CSM Corporatama 
(‘Indorent’, Indonesia), belonging to PT Indomobil Sukses Interna tional, Tbk 
(‘Indomobil’, Indonesia) will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger  Regulation joint control of a joint venture (JV)  (Indonesia). The 
                                                 
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 ’). 

2 concentration is accomplished by way of purchase of shares in a newly created 
compa ny constituting a joint venture.3 
2. The business activities of the undertakings concerned are the following : 
− Mitsui: a trading, business management and project development company, active 
in various sectors, including: (i) iron & steel products; (ii) mineral & metal 
resources; (iii) infrastructure projects; (iv) mobility; (v) basic chemicals; (vi) performance chemicals; (vii) energy; (viii) food resources; (ix) consumer services; and (x) IT & communication/corporate development,  
− PTS Investments: a wholly -owned subsidiary of PTL, which is a provider of 
transportation and supply chain services  , and more specifical ly, full -service truck 
leasing, truck rental, contract maintenance, and supply chain logistics services , 
− Indorent: a wholly -owned subsidiary of Indomobil, a manufacturer of cars and 
motorbikes. Indorent iprovides transportation services and vehicle rental services 
for corporate customers,  
− JV: a greenfield joint venture which will be established and operate in the commercial vehicl e leasing business in Indonesia.  
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) and 5(b) 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 Agreement . 
For the Commission 
  (Signed)  
Olivier GUERSENT  
Director -General  
                                                 
3  Publication in the Official Journal of the European Union No C 217, 1.6.2022, p. 28. 
4  OJ C 366, 14.12.2013, p. 5.