Prior notification of a concentration (Case M.11396 – PIRELLI / PIF / JV) – Candidate case for simplified procedure
Date: 2024-01-16
Institutions: Directorate-General for Competition, European Commission
Subjects: Saudi Arabia, economic concentration, investment company, merger control, provision of services, rubber industry








C_202400837EN.000101.fmx.xml












Official Journal of the European Union


EN
Series C













C/2024/837


16.1.2024






Prior notification of a concentration
(Case M.11396 – PIRELLI / PIF / JV)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/837)


1.   
On 22 December 2023, 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:






—


Pirelli Tyre S.p.A. solely controlled by Pirelli & C. S.p.A (‘Pirelli’, Italy),










—


Public Investment Fund (‘PIF’, Saudi Arabia)




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


2.   
The business activities of the undertakings concerned are the following:






—


Pirelli is a global manufacturer of consumer tyres (tyres for cars, motorcycles, and bicycles) and provider of associated services.










—


PIF is the Saudi Arabian sovereign wealth fund. It has direct and indirect investments in several sectors across Saudi Arabia and globally, including food and agriculture, energy, financial sector, manufacturing, real estate, logistics and digital sectors.






3.   
The business activities of the new JV undertaking will be the following:






—


The JV company will establish and operate a plant in Saudi Arabia for the production and sale of tyres to be primarily sold in Saudi Arabia, as well as in certain countries in the Gulf Cooperation Council and the Middle East and North Africa region.






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 treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (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.11396 – PIRELLI / PIF / JV
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
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 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2024/837/oj
ISSN 1977-091X (electronic edition)