CELEX: 32014M7396
Language: en
Date: 2014-12-02 00:00:00
Title: Commission Decision of 02/12/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7396 - SAUDI ARAMCO / S-OIL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 2.12.2014
                                        C(2014) 9318 final

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                                        To the notifying party

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

Subject:    Case M.7396 - SAUDI ARAMCO / S-OIL
         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 06.11.2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation  by
    which Aramco Overseas Company B.V. ("AOC", The Netherlands), indirectly wholly owned by Saudi Arabian Oil  Company  ("Saudi  Aramco",  Saudi
    Arabia), acquires sole control over S-Oil Corporation ("S-Oil", South Korea), currently jointly controlled by Saudi Aramco and Hanjin Energy
    Co Ltd (South Korea), by way of purchase of shares. [3]

 2. The business activities of the undertakings concerned are:

      -    For Saudi Aramco: active in the exploration, production and marketing of crude oil and in the production  and  marketing  of  refined
    products;

      -    For S-Oil: production and marketing of refined products.

 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) and 5(d) 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 400, 13.11.2014, p. 18.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE