CELEX: 32010M6054
Language: en
Date: 2010-12-21 00:00:00
Title: Commission Decision of 21/12/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.6054 - FIRST RESERVE CORPORATION / BLACKSTONE / PBF ENERGY) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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32010M6054

Commission Decision of 21/12/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.6054 - FIRST RESERVE CORPORATION / BLACKSTONE / PBF ENERGY) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)  

         (.PICT.) |EUROPEAN COMMISSION     |
            Brussels , 21.12.2010
             SG-Greffe(2010) D/21321
             C(2010)9682
             PUBLIC VERSION
             MERGER PROCEDURE ARTICLE 6(1)(b) DECISION
             SIMPLIFIED PROCEDURE
             To the notifying parties 
             Dear Madam(s) and/or Sir(s),
             Subject: Case No COMP/M.6054 - FIRST RESERVE CORPORATION/ BLACKSTONE/ PBF ENERGY Notification of 24.11.2010 pursuant to Article 4 of Council Regulation (EC) No 139/2004  [1]  Publication in the Official Journal of the European Union No C 325, 02.12.2010, p.24
            1.  On 24.11.2010, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which The Blackstone Group L.P. (“Blackstone”, USA) and First Reserve Corporation (“FRC”, USA) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of PBF Energy Company LLC (“PBF”, USA), by way of an agreement. 
              
            2.  The business activities of the undertakings concerned are:
             - FRC: investment in global energy companies including oilfield services, energy infrastructure and power and energy reserves,
             - Blackstone: global alternative asset management and provision of financial advisory services
             - for PBF: oil refining in the USA.
            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
            [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.