CELEX: 32020M9804
Language: en
Date: 2020-04-30 00:00:00
Title: Commission Decision of 30/04/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9804 - SAUDI ARAMCO DEVELOPMENT / BAKER HUGHES / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 30.4.2020
                                                                C(2020) 2960 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9804 — Saudi Aramco Development/Baker Hughes/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 3 April 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Saudi Aramco
        Development Company (‘SADCO’, Saudi Arabia) and Baker Hughes Company
        (‘BHC’, United States) acquire within the meaning of Article 3(1)(b) and 3(4) of the
        Merger Regulation joint control of a joint venture company to be created (the
        ‘Proposed JV’, Saudi Arabia).
        The concentration is accomplished by way of purchase of shares. SADCO and BHC
        intend to each purchase 50% of the share capital of the Proposed JV.3
2.      The business activities of the undertakings concerned are:
             for SADCO: exploration, production and marketing of crude oil and, to a lesser
              extent, production and marketing of refined products and petrochemicals;
             for BHC: provision of integrated oilfield products and services for oil and gas
              development upstream, midstream and downstream.
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 123, 16.4.2020, p. 49.
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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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