CELEX: 32014M7317
Language: en
Date: 2014-08-22 00:00:00
Title: Commission Decision of 22/08/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7317 - MERCURIA / JP MORGAN CHASE & CO COMMODITIES TRADING BUSINESS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |
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                                       Brussels, 22.8.2014

                                       C(2014) 6108 final

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|To the notifying party:                                     |                                                                   |
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Dear Madam(s) and/or Sir(s),

Subject:    Case M.7317 - MERCURIA/ JP MORGAN CHASE & CO COMMODITIES TRADING BUSINESS
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

1.    On 24 July 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation
      by which the undertaking Mercuria Energy Group Limited ("Mercuria" of Cyprus) acquires within the meaning of Article 3(1)(b) of the  Merger
      Regulation sole control over the physical commodities trading business of JP Morgan Chase & Co. ("JP Morgan Commodities" of USA) by way  of
      purchase of shares and assets[2].

2.    The business activities of the undertakings concerned are:

      -     Mercuria is active in the trading of energy products, including crude oil and refined  petroleum  products,  natural  gas  (including
           LNG), power, coal, biodiesel, vegetable oils and carbon emissions. Mercuria also provides storage facilities for petroleum products;

      -     JP Morgan Commodities comprises JP Morgan Chase & Co.'s activities in the physical trading  of  crude  oil  and  petroleum  products,
           natural gas, thermal coal, power, emission rights and various base metals. It also provides  warehousing  services  with  respect  to
           exchange-traded base metals.

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[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

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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]   Publication in the Official Journal of the European Union No C 250 of 01-08-2014, p.16.
[3]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE