CELEX: 32018M9103
Language: en
Date: 2018-10-17 00:00:00
Title: Commission Decision of 17/10/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.9103 - ORIX Aviation Systems Limited / Bohai Capital Holding Co., Ltd.) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 17.10.2018
                                                                C(2018) 6952 final
                                                                  PUBLIC VERSION
                                                                To the notifying parties:
Subject:        Case M.9103 – ORIX Aviation Systems/Bohai/Avolon
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
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                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 24 September 2018, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which ORIX Aviation
        Systems Limited ("OAS", Ireland), belonging to ORIX Corporation (Japan), and Bohai
        Capital Holding Co., Ltd. ("Bohai", China), belonging to HNA Group (China), acquire
        within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of
        Avolon Holdings Limited ("Avolon"), Bohai's subsidiary active in aircraft leasing services, by
        way of purchase of shares (the "Transaction").3
2.      The business activities of the undertakings concerned are:
          –        for OAS: an investor aircraft and asset manager. ORIX Corporation is a financial
                   services group with a diverse portfolio of financial services,
          –        for Bohai: a leasing group. HNA Group is a conglomerate encompassing core
                   divisions of aviation, holdings, capital, tourism and logistics.
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(c) of
        the Commission Notice on a simplified procedure for treatment of certain concentrations
        under Council Regulation (EC) No 139/2004.4
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 347, 28.9.2018, p. 21.
4       OJ C 366, 14.12.2013, p. 5.
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--- 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)
                                                   Johannes LAITENBERGER
                                                   Director-General
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