Prior notification of a concentration (Case M.10888 – INEOS / SINOPEC / INEOS STYROLUTION ADVANCED MATERIALS) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 390/05
Date: 2022-10-11
Institutions: Directorate-General for Competition, European Commission
Subjects: China, chemical industry, economic concentration, merger control, oil industry, petrochemicals








C_2022390EN.01000601.xml










11.10.2022   


EN


Official Journal of the European Union


C 390/6






Prior notification of a concentration
(Case M.10888 – INEOS / SINOPEC / INEOS STYROLUTION ADVANCED MATERIALS)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 390/05)

1.   
On 30 September 2022, 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:






—


INEOS AG (‘INEOS’, Switzerland),










—


China Petroleum and Chemical Corporation (‘SINOPEC’, China), state owned enterprise,










—


INEOS Styrolution Advanced Materials (Ningbo) Pte Ltd (‘INEOS Styrolution Advanced Materials’, China), newly created joint venture, controlled by INEOS and SINOPEC.




INEOS and SINOPEC will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of INEOS Styrolution Advanced Materials.
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 are the following:






—


INEOS is is a privately owned conglomerate that produces a range of chemicals including petrochemicals, specialty chemicals and oil products,










—


SINOPEC is a petroleum and petrochemical group headquartered in Beijing.






3.   

The business activities of INEOS Styrolution Advanced Materials will be the following: to develop, construct and operate a high-density polyethylene plant in the People’s Republic of China.



4.   
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.


5.   
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.10888 – INEOS / SINOPEC / INEOS STYROLUTION ADVANCED MATERIALS
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.