CELEX: 32015M7403
Language: en
Date: 2015-01-05 00:00:00
Title: Commission Decision of 05/01/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7403 - CSSC INVESTMENT / WÄRTSILÄ DUTCH HOLDING / WÄRTSILÄ SWITZERLAND) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 5.1.2015
                                        C(2015) 30 final

|                                                                          |To the notifying parties:                                           |

Dear Sirs,

Subject:    Case M.7403 – CSSC INVESTMENT/ WÄRTSILÄ DUTCH HOLDING/ WÄRTSILÄ SWITZERLAND
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 26 November 2014, the European Commission received notification of  a  proposed  concentration  pursuant  to  Article  4  of  the  Merger
    Regulation by which the undertakings China State Shipbuilding Corporation ("CSSC", People's Republic of China), ultimately controlled by the
    Chinese state, and Wärtsilä Corporation ("Wärtsilä", Finland) acquire within the meaning of Article 3(1)(b) of the Merger  Regulation  joint
    control of the undertaking Wärtsilä Switzerland Ltd. ("WCH", Switzerland) by way of purchase of shares. Currently, WCH is solely  controlled
    by Wärtsilä.[3]

 2. The business activities of the undertakings concerned are:

      – for CSSC: CSSC is the parent company of one of the largest shipbuilding conglomerates  in  China  (the  CSSC  Group),  operating  various
        shipyards, marine-related equipment manufacturers, research institutes and shipbuilding  related  companies  as  well  as  activities  in
        aerospace, construction, power generation, petrochemicals, hydraulic engineering, environmental protection, metallurgy, railway and light
        industry;

      – for Wärtsilä: Wärtsilä is the parent company of the Wärtsilä Group which is active in the supply of complete  lifecycle  power  solutions
        for the marine and energy markets. Wärtsilä Group supplies ship power  for  builders,  owners  and  operators  of  vessels  and  offshore
        installations. It has a global service network for customers' ship machinery at every lifecycle stage, and is a provider of power plants,
        operation and lifetime care services in decentralized power generation;

      – for WCH: WCH is active in the development and licensing of 2-stroke low speed marine engine technology.

 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)
                                        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 L 1, 3.1.1994, p. 3 ("the EEA Agreement").

[3]   Publication in the Official Journal of the European Union No C 434, 4.12.2014, p. 16.

[4]   OJ C 366, 14.12.2013, p. 5.

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                                                           SIMPLIFIED MERGER PROCEDURE

                                                                  PUBLIC VERSION