Prior notification of a concentration (Case M.12250 – TALISMAN / MERCURIA / ITOCHU / FITZROY CQ) – Candidate case for simplified procedure
Date: 2026-02-04
Institutions: Directorate-General for Competition, European Commission
Subjects: Australia, coal mining, economic concentration, investment company, merger control, mineral prospecting








C_202600822EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2026/822


4.2.2026






Prior notification of a concentration
(Case M.12250 – TALISMAN / MERCURIA / ITOCHU / FITZROY CQ)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2026/822)


1.   
On 27 January 2026, 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:






—


Talisman Partners 2 Pty Ltd (‘Talisman’, Australia),










—


Mercuria Energy Group Limited (‘Mercuria’, Bermuda), controlled by Mercuria Energy Group Holding Ltd. (Cayman Islands),










—


IMEA Fitzroy Pty Ltd (‘IMEA’, Australia), ultimately controlled by ITOCHU Corporation (‘ITOCHU’, Japan),










—


Fitzroy (CQ) Pty Ltd (‘Fitzroy CQ’, Australia).




Talisman, Mercuria and IMEA will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Fitzroy CQ.
The concentration is accomplished by way of purchase of shares.


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






—


Talisman is active in the provision of mining support services, including contracting and consulting services for mines located in Australia,










—


Mercuria is active in global energy and commodities trading, as well as logistics,










—


IMEA is active in coal mine investments. ITOCHU is a trading company active globally in domestic trading, import/export activities, and overseas trading of various products (including textile, machinery, metals, minerals, energy, chemicals, food, information and communications technology, and financial).






3.   

Fitzroy CQ is active in coal exploration and mining. Fitzroy CQ focuses mostly on metallurgical coal. It operates coal mines in the Rangal Coal Measures in the Bowen Basin of Central Queensland (Australia).



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 concentration 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.12250 – TALISMAN / MERCURIA / ITOCHU / FITZROY CQ
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/2026/822/oj
ISSN 1977-091X (electronic edition)