CELEX: 32020M10089
Language: en
Date: 2020-12-23 00:00:00
Title: Commission Decision of 23/12/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.10089 - PHILLIPS 66 / FORTRESS INVESTMENT GROUP / PESTER MARKETING) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 23.12.2020
                                                                C(2020)9638 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.10089 — Phillips 66/Fortress Investment Group/Pester Marketing
                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 1 December 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Phillips 66
        Company (“Phillips 66”, USA) and Fortress Investment Group LLC (“Fortress”,
        USA), controlled by SoftBank Group Corp. (“SoftBank”, Japan), indirectly acquire
        within the meaning of Article 3(1)(b) of the Merger Regulation joint control over
        Pester Marketing gas station and convenience store business (“Pester Marketing”,
        USA) by way of purchase of assets.3
2.      The business activities of the undertakings concerned are:
             for Phillips 66: processing, transporting, storing and marketing fuels and products
              globally through a portfolio of integrated midstream, chemicals, refining and
              marketing businesses,
             for Fortress: global investment and asset management,
             for Pester Marketing: owning and operating service stations selling motor fuel
              and daily consumer goods in the Rocky Mountain, Southwest and Mid-West
              regions of the USA.
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
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 424, 8.12.2020, p. 33.
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---    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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