CELEX: 32012M6706
Language: en
Date: 2012-10-30 00:00:00
Title: Commission Decision of 30/10/2012 declaring a concentration to be compatible with the common market (Case No COMP/M.6706 - SK INNOVATION CO / CONTINENTAL AG) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

Important legal notice

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32012M6706

Commission Decision of 30/10/2012 declaring a concentration to be compatible with the common market (Case No COMP/M.6706 - SK INNOVATION CO / CONTINENTAL AG) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)  

          |EUROPEAN COMMISSION      |
             Brussels, 30.10.2012
             PUBLIC VERSION C(2012) 7961
             SIMPLIFIED MERGER PROCEDURE
             To the notifying parties:
             Dear Madam(s) and/or Sir(s),
             Subject: Case No COMP/M.6706 – SK INNOVATION CO/ CONTINENTAL AG Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004  [1]  
            1.  On 26.09.2012, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which SK Innovation Co. Ltd., ("SK", Republic of Korea) and Continental AG, ("Continental", Germany) acquire, within the meaning of Article 3(1)(b) and Article 3(4) of the Merger Regulation, joint control of newly created full function joint venture SK Continental E-Motion Pte. Ltd. (“Continental E-Motion”, Singapore) by way of purchase of shares. [2]  
            2.  The business activities of the undertakings concerned are:
            -  for SK: petroleum exploration and production and development and manufacture of materials for electronic products and batteries,
            -  for Continental: supplier of automotive industry including braking systems, sensors, instruments and tires,
            -  for Continental E-Motion: development, production and sale of Li-ion battery systems for hybrid and electric vehicles.
            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 [3]  .  
            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.
              For the Commission (signed) Alexander ITALIANER 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]  Publication in the Official Journal of the European Union No C 300, 5.10.2012, p. 18.
            [3] OJ C 56, 5.3.2005, p. 32.