CELEX: 32015M7834
Language: en
Date: 2015-12-18 00:00:00
Title: Commission Decision of 18/12/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7834 - SUMITOMO CORPORATION / SUMITOMO MITSUI BANKING CORPORATION / PT SUMMIT OTO FINANCE / PT OTO MULTIARTHA) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 18.12.2015
                                        C(2015) 9712 final

                                        [pic]

|To the notifying parties:                                              |
|                                                                       |

Dear Sirs,

Subject:    Case M.7834 - SUMITOMO CORPORATION / SUMITOMO MITSUI BANKING CORPORATION / PT SUMMIT OTO FINANCE / PT OTO MULTIARTHA
         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 26 November 2015, the European Commission received notification of  a  proposed  concentration  pursuant  to  Article  4  of  the  Merger
    Regulation by which the Japanese undertakings Sumitomo Corporation (“SC”) and Sumitomo Mitsui Banking Corporation (“SMBC”), a subsidiary  of
    Sumitomo Mitsui Financial Group, acquire within the meaning of Article 3(1)(b) of the Merger Regulation  joint  control  of  the  Indonesian
    companies PT Summit Oto Finance (“SOF”) and PT Oto Multiartha (“OTO”), which currently are subsidiaries of SC, by way of purchase of  shares
    constituting a joint venture.[3]

 2. The business activities of the undertakings concerned are:

  – SC: integrated trading company active in various sectors such as metal products, transportation  and  construction  systems,  chemicals  and
    electronics, media, networks and lifestyle retail, and mineral resources;

  – SMBC: financial company providing commercial banking and correspondent banking services, as well as leasing,  securities  brokerage,  credit
    cards, consumer loans, venture capital and mortgage securitization services;

  – OTO: supply of automotive financing in Indonesia;

  – SOF: supply of motorcycle financing in Indonesia.

 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)
                                        Johannes LAITENBERGER
                                        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 401, 3.12.2015, p. 4.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE