CELEX: 32017M8474
Language: en
Date: 2017-06-15 00:00:00
Title: Commission Decision of 15/06/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8474 - HNA / CWT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                     
                  
               
               Brussels, 15.6.2017
            
            
               C(2017) 4253 final
            
            
               To the notifying party:
            
            
               Subject:Case M.8474 - HNA / CWT
                  Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004
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                and Article 57 of the Agreement on the European Economic Area
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               Dear Sir or Madam,
            
            
               1.On 18 May 2017, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which HNA Group Co., Ltd. ("HNA Group", China) acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control over CWT Limited ("CWT", Singapore), by way of a voluntary conditional offer.
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               2.The business activities of the undertakings concerned are:
            
            
               -HNA Group: conglomerate with investments in airlines, real estate and hodings, hotels, shipping, logistics, capital management, ecological technology and leasing companies. The core focus of HNA Group is China and the Asia region, and with activities in the European Union.   
            
            
               -CWT: is a corporation listed on the Mainboard of the Singapore Exchange Securities Trading Limited that provides integrated logistics solutions and related services ancilliary to its core logistics business. The majority of its activities are in Asia Pacific. In the European Union, CWT's activities relate mainly to logistics services and commodity marketing.
            
            
               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.
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               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
               
            
            
         
         
            
                  
                     (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 169, 30.5.2017, p. 50.
               
               
                  
                     (4)
                  
                  
                      
                           OJ C 366, 14.12.2013, p. 5.