CELEX: 32015M7469
Language: en
Date: 2015-01-26 00:00:00
Title: Commission Decision of 26/01/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7469 - ITOCHU / HITACHI CONSTRUCTION MACHINERY / HITACHI CONSTRUCTION MACHINERY FINANCE INDONESIA / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 26.01.2015
                                        C(2015) 431 final

                                        [pic]

                                        To the notifying parties:

Dear Madam(s) and/or Sir(s),

Subject:    Case M.7469 - Itochu/Hitachi Construction Machinery/Hitachi Construction Machinery Finance Indonesia/JV
         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 23.12.2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation  by
    which Itochu Corporation  (“Itochu Group”, Japan) and Hitachi Construction Machinery Co., Ltd. and  PT  Hexindo  Adiperkasa  Tbk   (“Hitachi
    Group”, Japan) acquire within the meaning of Article 3(1)(b) and 3(4) of the  Merger Regulation joint control over PT  Hitachi  Construction
    Machinery Finance Indonesia (”JV”, Indonesia) by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

  – Itochu Group:  worldwide trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, information  and
    communications technology, realty, insurance, logistics services, construction and finance.

  – Hitachi Group: worldwide manufacturing of construction machinery with a focus on hydraulic excavators and sale of  wheel  loaders,  off-road
    dump trucks and some other products.

  – JV: provision of financial services to customers and dealers in relation to the purchase of construction machineries and trucks  of  Hitachi
    Group 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)
                                        Alexander ITALIANER
                                        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 006, 10.01.2015, p. 5.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE