CELEX: 32021M10192
Language: en
Date: 2021-03-18 00:00:00
Title: Commission Decision of 18/03/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10192 - LINDE / HYOSUNG / JVs) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 18.03.2021
                                                                C(2021) 1942 final
                                                                                 PUBLIC VERSION
                                                                Linde Korea Co., Ltd.
                                                                5F, KT&G Kosmo Daechi Tower, 8,
                                                                Teheran-ro 98-gil, Gangnam-gu
                                                                06181 Seoul
                                                                Republic of Korea
                                                                Hyosung Heavy Industries Corporation
                                                                119, Mapo-daero (Gongdeok-dong),
                                                                Mapo-gu
                                                                04144 Seoul
                                                                Republic of Korea
Subject:        Case M.10192 – LINDE / HYOSUNG / JVs
                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 24 February 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Linde Korea
        Co., Ltd (“Linde Korea”, South Korea) and Hyosung Heavy Industries Corporation
        (“Hyosung”, South Korea) acquire within the meaning of Article 3(1)(b) and 3(4) of
        the Merger Regulation joint control of Korean Hydrogen JV (“the JV”, South Korea)
        by way of purchase of shares in two newly created companies Production JV (South
        Korea) and Sales JV (South Korea) together constituting a joint venture.3
2.      The business activities of the undertakings concerned are:
             Linde Korea: a wholly owned subsidiary of Linde plc, which is a gases and
              engineering company with activities in more than 100 countries worldwide;
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 74, 3.3.2021, p. 9.
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---        Hyosung: manufactures and sells heavy electrical equipment worldwide. It is also
        engaged in various areas of construction, including housing, redevelopment and
        reconstruction, business and commercial facilities, civil engineering and
        environment;
       Korean Hydrogen JV: will develop, construct and operate one or more plants for
        the production of liquid hydrogen in South Korea and will sell and distribute such
        liquid hydrogen to customers for use in the mobility market in South Korea.
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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