CELEX: 32020M9858
Language: en
Date: 2020-08-11 00:00:00
Title: Commission Decision of 11/08/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9858 - BOSCH GROUP / ELCO GROUP / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 11.8.2020
                                                                C(2020) 5619 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9858 — Bosch Group/ELCO Group/JV
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 16 July 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 and following a referral pursuant to Article 4(5) of
        the Merger Regulation by which Bosch Thermotechnik GmbH (‘Bosch TT’,
        Germany), part of the Bosch Group ultimately controlled by the Robert Bosch GmbH,
        and Electra Consumer Products Ltd (‘ECP’, Israel), part of the ELCO Group
        ultimately controlled by Elco Ltd., acquire within the meaning of Article 3(1)(b)
        and 3(4) of the Merger Regulation joint control of the whole of Electra Industries Ltd.
        (Israel) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Bosch TT: manufacturing of energy-efficient heating products and hot water
              solutions,
             for ECP: manufacturing and distribution of electrical consumer products,
              telecommunications service and investment property,
             for Electra Industries Ltd.: development, production and supply to OEM
              customers of residential air conditioners and accessories, central AC water
              terminals, air-to-water heat pumps and components.
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 L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 243, 23.7.2020, p. 15.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak--- 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
   paragraphs 5(a) and 5(c) of the Commission Notice on a simplified procedure for
   treatment of certain concentrations under Council Regulation (EC) No 139/2004.4
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 and Article 57 of
   the EEA Agreement.
                                                  For the Commission
                                                  (Signed)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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