CELEX: 32015M7519
Language: en
Date: 2015-04-07 00:00:00
Title: Commission Decision of 07/04/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7519 - REPSOL / TALISMAN ENERGY) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 07/04/2015
                                        C(2015) 2416 final

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Dear Madam(s) and/or Sir(s),

Subject:    Case M.7519 - REPSOL/ TALISMAN ENERGY
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

1.    On 10 March 2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation
      by which Repsol, S.A. ("Repsol", Spain) acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control over  Talisman
      Energy Inc. ("Talisman", Canada), by way of purchase of shares.[3]

2.    The business activities of the undertakings concerned are:

    -      Repsol is present in all activities relating to the oil and gas industry including exploration, development and production  of  crude
        oil and natural gas; refining and marketing activities of oil products, petrochemical products, liquefied petroleum gas (LPG) as well  as
        marketing activities relating to natural gas and liquefied natural gas (LNG);

    -      Talisman is active in the exploration, development, production, transportation, and  marketing  of  crude  oil,   natural   gas   and
        natural  gas  liquids. Talisman’s activities are concentrated in North America, the North Sea, and Southeast Asia. It also has assets  in
        Latin America, Africa, the Middle East, Australia/East Timor, and Papua New Guinea.

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]

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)
                                        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]   OJ L 1, 3.1.1994, p.3 ("the EEA Agreement").

[3]   Publication in the Official Journal of the European Union No C 093, 20.03.2015, p. 21.

[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE