CELEX: 32014M7219
Language: en
Date: 2014-07-03 00:00:00
Title: Commission Decision of 03/07/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7219 - SONACI / DTS / SONACI DT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |
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                                        Brussels, 3 July 2014
                                        C(2014) 4666 final

                                        |To the notifying parties:                                          |
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Dear Madam(s) and/or Sir(s),

Subject:    Case M.7219 - SONACI/ DTS/ SONACI DT
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

1.    On 5 June 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of  the  Merger  Regulation
      by which the undertakings Sonangol Comercializacao Internacional Ltd ('Sonaci', of Angola), ultimately controlled by the Angolan State, and
      DTS Holdings (Singapore) Pte. Ltd ('DTS', of Singapore), a joint venture between Trafigura Beheer B.V. (of the Netherlands) and Cochan  Ltd
      (of the Bahamas), acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the undertaking  Sonaci  DT  Pte.
      Ltd ('Sonaci DT', of Singapore) by way of purchase of shares in a newly created company constituting a joint venture[2].

2.    The business activities of the undertakings concerned are:

      -     for Sonaci: it acts as an agent for Sociedade Nacional de Combustiveis de Angola, Empresa Publica, in the marketing of crude oil  and
           natural gas. Sonaci procures and negotiates the sale and purchase of these products;

      -     for DTS: it holds a diversified portfolio of interests in trading, shipping infrastructure, mining, logistics, real  estate  and  oil
           products distribution business primarily in Angola and Southern Africa. It also currently owns an LNG trading business;

      -     Sonaci DT will be active in the international trading of LNG.

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) and 5(b) of the Commission Notice on a simplified procedure for treatment of certain concentrations
      under Council Regulation (EC) No 139/2004[3].

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

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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]   Publication in the Official Journal of the European Union No C 180, 13.06.2014, p.25.
[3]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE