Prior notification of a concentration (Case M.10593 — DUSSUR / SeAH / JV) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 102/09
Date: 2022-03-02
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, investment company, iron and steel product, merger control, tube








C_2022102EN.01001301.xml










2.3.2022   


EN


Official Journal of the European Union


C 102/13






Prior notification of a concentration
(Case M.10593 — DUSSUR / SeAH / JV)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 102/09)

1.   
On 22 February 2022, the Commission received notification of a proposed concentration pursuant to Article 4 and following a referral pursuant to Article 4(5) of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Saudi Arabian Industrial Investments Company (‘Dussur’, Saudi-Arabia), jointly controlled by the Public Investment Fund (‘PIF’, Saudi-Arabia) and Saudi Arabian Oil Company (‘Saudi Aramco’, Saudi-Arabia),










—


SeAH Changwon Integrated Special Steel Corp. (‘SeAH’, South Korea), ultimately controlled by SeAH Holdings Corporation (South Korea),










—


A newly created company (‘Target JV’, Saudi-Arabia).




Dussur and SeAH will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the Target JV.
The concentration is accomplished by way of purchase of shares in a newly created company constituting a joint venture.


2.   
The business activities of the undertakings concerned:






—


Dussur is a strategic industrial investment firm,










—


SeAH is a manufacturer of special steel products for various applications including automotive, machinery, aviation, energy, shipbuilding and electronics,










—


the Target JV is a greenfield joint venture set up for the purposes of manufacturing and selling stainless seamless pipes and tubes in the Middle East and North Africa.






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 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.10593 — DUSSUR / SeAH / JV
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.