Prior notification of a concentration (Case M.7406 — Versalis/Lotte Chemical Corporation/Lotte Versalis Elastomers) — Candidate case for simplified procedure  Text with EEA relevance
Date: 2014-10-28
Institutions: European Commission
Subjects: South Korea, economic concentration, merger control, petrochemicals








C_2014381EN.01001701.xml










28.10.2014   


EN


Official Journal of the European Union


C 381/17





Prior notification of a concentration
(Case M.7406 — Versalis/Lotte Chemical Corporation/Lotte Versalis Elastomers)
Candidate case for simplified procedure
(Text with EEA relevance)
2014/C 381/11






1.


On 20 October 2014, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Versalis SpA (‘Versalis’, Italy), controlled by Eni SpA (‘Eni’, Italy), and Lotte Chemical Corporation (‘LCC’, South Korea), belonging to the Lotte Group (‘Lotte’, South Korea), through their existing joint venture, Lotte Versalis Elastomers Co. Ltd (‘LVE’, South Korea), acquire joint control over Eni’s South Korean thermoplastic elastomers business within the meaning of Article 3(1)(b) of the Merger Regulation.










2.


The business activities of the undertakings concerned are:






—


LCC is engaged in the production of an extensive range of petrochemical products, including plastics, synthetics and basic chemicals, HDPE, PP and MEG,










—


Lotte is a diversified holding group with interests in several sectors such as food, retail, hotels, chemicals, construction and finance worldwide,










—


Versalis is active in the production and marketing of a wide portfolio of petrochemical products, as well as the sale of licences relating to its technologies and know-how,










—


Eni is an integrated energy group active in the exploration, producing and marketing of oil and gas, electricity generation, petrochemicals, oilfield services, construction and engineering industries worldwide,










—


LVE is an existing joint venture controlled by LCC and Versalis and active in the manufacturing and sale of certain elastomers in Korea. Its activities are hereby being extended into thermoplastic elastomers.














3.


On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the 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 this Notice.










4.


The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by e-mail to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number M.7406 — Versalis/Lotte Chemical Corporation/Lotte Versalis Elastomers, to the following address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË










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

(2)  OJ C 366, 14.12.2013, p. 5.