CELEX: 32019M9600
Language: en
Date: 2019-11-07 00:00:00
Title: Commission Decision of 07/11/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9600 - SAUDI ARAMCO DEVELOPMENT COMPANY / KOREA SHIPBUILDING AND OFFSHORE ENGINEERING COMPANY / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 07.11.2019
                                                                C(2019) 8066 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9600 – SAUDI ARAMCO DEVELOPMENT COMPANY /
                KOREA SHIPBUILDING AND OFFSHORE ENGINEERING
                COMPANY / JV
                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 15 October 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Saudi Aramco Development Company (“SADCO”, Saudi Arabia), a
        wholly owned subsidiary of Saudi Arabian Oil Company (“Saudi Aramco”, Saudi
        Arabia) and Korea Shipbuilding & Offshore Engineering Co., Ltd. (“KSOE”, South
        Korea) acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger
        Regulation joint control over the newly created joint venture company by way of
        purchase of shares.3
2.      The business activities of the undertakings concerned are:
             SADCO is primarily engaged in the exploration, production and marketing of
              crude oil and in the production and marketing of refined products and
              petrochemicals,
             KSOE is a provider of integrated systems and solutions for powering seaborne
              transportation and technology and services for the offshore industry,
             The newly created joint venture company will construct and operate an engines
              and marine pumps manufacturing site in Saudi Arabia.
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 358, 22.10.2019, p.14.
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--- 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)
                                                  Cecilio MADERO VILLAREJO
                                                  Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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