CELEX: 32019M9621
Language: en
Date: 2019-12-06 00:00:00
Title: Commission Decision of 06/12/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9621 - SUEZ / ITOCHU / SFC / EDCO) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                              Brussels, 06.12.2019
                                                              C(2019) 8899 final
                                                                                PUBLIC VERSION
                                                              To the notifying parties
Subject:        Case M.9621 – SUEZ / ITOCHU / SFC / EDCO
                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 14 November 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings SUEZ Groupe SAS (“Suez”, France), ITOCHU Corporation (“Itochu”,
        Japan) and Saudi Fransi Capital (“SFC”, Saudi Arabia), owned by Banque Saudi
        Fransi (Saudi Arabia) acquire within the meaning of Article 3(1)(b) of the Merger
        Regulation joint control over the whole of the undertaking Environment Development
        Company Limited (“EDCO”, Saudi Arabia) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             SUEZ is a company active in the provision of water management, recycling and
              wastewater recovery and urban development services,
             ITOCHU is a Japanese trading and investment company with a wide range of
              experience investing in infrastructure projects,
             SFC is a full-service Saudi-based investment services provider offering
              investment banking, asset management, debt and equity research, institutional
              sales and trading, and local/international brokerage services,
             EDCO is an independent company providing hazardous waste management
              services in the Jubail area in Saudi Arabia.
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 395, 22.11.2019, p. 9 and C 401,
        27.11.2019, p. 13
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--- 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)
                                                  Cecilio MADERO VILLAREJO
                                                  Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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