Prior notification of a concentration (Case M.9726 — Itochu/AMCI/POSCO/JVLP/NCR) Candidate case for simplified procedure (Text with EEA relevance) 2020/C 35/06
Date: 2020-02-03
Institutions: Directorate-General for Competition, European Commission
Subjects: chemical industry, economic concentration, electronics industry, energy industry, financial services, food industry, investment company, merger control, mining industry, textile industry








C_2020035EN.01000801.xml










3.2.2020   


EN


Official Journal of the European Union


C 35/8






Prior notification of a concentration
(Case M.9726 — Itochu/AMCI/POSCO/JVLP/NCR)
Candidate case for simplified procedure
(Text with EEA relevance)
(2020/C 35/06)

1.   
On 27 January 2020, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Itochu Corporation (‘Itochu’, Japan),










—


American Metals & Coal International, Inc. (‘AMCI’, USA),










—


POSCO Corporation (‘POSCO’, South Korea),










—


Jaz Ventures, L.P. (‘JVLP’, USA),










—


North Central Resources, LLC (‘NCR’, USA), a joint venture.




Itochu, AMCI, POSCO and JVLP acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of NCR.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are:






—


Itochu is active across a wide range of industries including steel products, textiles, industrial machinery, electronics, chemicals, food and financial services,










—


AMCI is a privately held natural resources investment company, with operations in a number of areas affecting energy and metal commodities, including investments in coal and minerals, metals and shipping,










—


POSCO is involved in a range of mining industries such as iron ore, nickel, coal and renewable energy. POSCO currently operates two steel mills in Korea,










—


JVLP is a family limited partnership holding a variety of investments in energy companies,










—


NCR is a joint venture whose aim is to hold, develop, explore, construct and exploit commercially a greenfield coking coal project in West Virginia.






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 the 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. The following reference should always be specified:
M.9726 — Itochu/AMCI/POSCO/JVLP/NCR
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Fax +32 22964301
Postal 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.