CELEX: 32022M10545
Language: en
Date: 2022-01-24 00:00:00
Title: Commission Decision of 24/01/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10545 - PSA / TIL / PNIT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 24.1.2022
                                                                 C(2022) 483 final
                                                                                 PUBLIC VERSION
                                                                 PSA International Pte. Ltd.
                                                                 1 Harbour Drive
                                                                 #03-00 PSA Horizons
                                                                 11735 Singapore
                                                                 Terminal Investment Limited Sàrl
                                                                 12-14 Chemin Rieu
                                                                 1208 Geneva
                                                                 Switzerland
Subject:        Case M.10545 – PSA / TIL / PNIT
                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 20 December 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings PSA International Pte. Ltd. (“PSA”, Singapore) and                           Terminal
        Investment Limited Sàrl (“TIL”, Switzerland) aquire within the meaning of Article
        3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of the
        undertaking Pusan Newport International Terminal Co., Ltd. (“PNIT”, Korea) by way
        of purchase of shares.3
2.      The business activities of the undertakings concerned are:
         for PSA: an international operator of port terminals. It is mainly active in the
             provision of stevedoring services at ports, with a particular focus on providing
             container terminal services for ocean carriers,
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 14I, 12.1.2022, p. 7.
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 TIL: it invests in, develops and manages container terminals around the world,
       often in joint ventures with other terminal operators. TIL is indirectly jointly
       controlled by MSC Mediterranean Shipping Company of Switzerland and certain
       funds managed by Global Infrastructure Management, LLC. of the United States,
    for PNIT: operates a container terminal in Busan New Port located in South
       Korea’s southeastern port city of Busan. It is currently controlled by PSA.
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) 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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