CELEX: 32013M7084
Language: en
Date: 2013-12-03 00:00:00
Title: Commission Decision of 03/12/2013 declaring a concentration to be compatible with the common market (Case No COMP/M.7084 - MEDTRONIC VASCULAR / BACKSTON / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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                                        Brussels, 03/12/2013
                                        C(2013) 8820 final

Dear Madam/Sir,

Subject:    Case No COMP/M.7084 - MEDTRONIC VASCULAR/ BACKSTON/ JV
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

1.    On 5 November 2013, the European Commission received a  notification  of  a  proposed  concentration  pursuant  to  Article  4  of  Council
      Regulation (EC) No 139/2004 by which the undertaking Medtronic Vascular Holdings (Ireland),  controlled  by  Medtronic  Inc.  ('Medtronic',
      USA), and Backston Management Limited (Cyprus), ultimately controlled by Renova Investment Group Ltd. ('Renova Group', Russian Federation),
      acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of  the  whole  of  LLC  Stentex  ('Stentex',  Russian
      Federation) by way of purchase of shares.

2.    The business activities of the undertakings concerned are:

      -     Medtronic is active globally in the development and licensing of intellectual property rights in connection with  medical  technology
           and medical devices,

      -     Renova Group is a business group that consists of asset management and direct portfolio investment funds owning and  managing  assets
           in metals, mining, machine building, construction development, energy, telecommunications, etc. in Russia, Europe, South  Africa  and
           the US,

      -     Stentex will manufacture and sell cardiovascular medical products (in particular coronary stents and their related delivery  systems)
           in the Russian Federation and potentially in Belarus and Kazakhstan.

3.    After examination of the notification, the European Commission has concluded that the notified operation falls  within  the  scope  of  the
      Merger Regulation and of paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of  certain  concentrations  under
      Council Regulation (EC) No 139/2004[2].

4.    For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the  notified  operation
      and to declare it compatible with the internal market and with the EEA Agreement. This  decision  is  adopted  in  application  of  Article
      6(1)(b) of the Merger Regulation.

                                        For the Commission
                                        (signed)
                                        Alexander ITALIANER
                                        Director General

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[1]   OJ L 24, 29.1.2004, p. 1 ("the Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the  European  Union
      ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by  "internal  market".  The
      terminology of the TFEU will be used throughout this decision.
[2]   OJ C 56, 5.3.2005, p. 32.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE