CELEX: 32021M10550
Language: en
Date: 2021-12-07 00:00:00
Title: Commission Decision of 07/12/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10550 - PHILLIPS 66 / FORTRESS INVESTMENT GROUP / WESTERN OIL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 7.12.2021
                                                                 C(2021) 9287 final
                                                                                PUBLIC VERSION
                                                                Phillips 66
                                                                2331 CityWest Blvd, Houston, TX
                                                                77042
                                                                United States of America
                                                                Fortress Investment Group LLC
                                                                1345 Avenue of the Americas, 46th
                                                                Floor New York, New York 10105
                                                                United States of America
Subject:         Case M.10550 - PHILLIPS 66 / FORTRESS INVESTMENT GROUP /
                 WESTERN OIL
                 Commission decision pursuant to Article 6(1)(b) of Council Regulation
                 (EC) No 139/20041 and Article 57 of the Agreement on the European
                 Economic Area2
Dear Sir or Madam,
1.      On 15 November 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Phillips 66 (USA) and Fortress Investment Group LLC (“Fortress”,
        USA), belonging to the group SoftBank Group Corp (“SoftBank Group”, USA),
        acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control
        of Western Oil, Inc. (“Western Oil”, USA) by way of purchase of assets.3
2.      The business activities of the undertakings concerned are:
             for Phillips 66: a multinational energy company with a portfolio of integrated
              midstream, chemicals, refining and marketing businesses. Phillips 66 processes,
              transports, stores and markets fuels and products globally,
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 472, 23.11.2021, p. 10.
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---        for Fortress: an alternative investment and asset management firm, which
        manages capital for a diverse group of investors including pension funds,
        endowments and foundations, financial institutions, funds of funds and high net
        worth individuals,
       for Western Oil: a family-owned operator of gas stations and convenience stores
        in the States of Missouri and Illinois in the United States, selling motor fuel as
        wholesaler and retailer, daily consumer goods, and transportation services for
        third parties.
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 139/2004.4
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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