CELEX: 32015M7781
Language: en
Date: 2015-11-06 00:00:00
Title: Commission Decision of 06/11/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7781 - MARUBENI-ITOCHU STEEL / SUMITOMO CORPORATION / MITS JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 6.11.2015
                                        C(2015) 7832 final

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|                                                                       |To the notifying parties:                                              |
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Dear Sirs,

Subject:    Case M.7781 – MARUBENI-ITOCHU STEEL/ SUMITOMO CORPORATION/ MITS 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 8 October 2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation
    by which the undertakings Marubeni-Itochu Steel Inc. ("MISI", Japan), controlled by Marubeni  Corporation  ("Marubeni",  Japan)  and  Itochu
    Corporation ("Itochu", Japan), and Sumitomo Corporation ("Sumitomo", Japan) acquire within the meaning of Article 3(1)(b) and  3(4)  of  the
    Merger Regulation joint control of Marubeni-Itochu Techno Steel Inc. ("MITS", Japan) by way of acquisition of  shares  in  a  newly  created
    company constituting a joint venture.[3]

 2. The business activities of the undertakings concerned are:

      – For MISI: production, imports, exports and sales of steel products, investment in steel-related  industries.  MISI  is  a  subsidiary  of
        Marubeni Corporation and Itochu Corporation, two conglomerates, which are active in the production and sale of a broad range of products,
        including food, textiles, chemicals, energy, metals, machinery and others.

      – For Sumitomo: production and supply of products and services in a wide range of sectors, including  metal  products,  transportation  and
        construction systems, infrastructures, media, mineral resources, energy, chemicals, electronics and others.

      – For MITS: production and supply of steel civil engineering products, steel construction products and other steel construction material.

 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)

                                        Johannes LAITENBERGER
                                        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 340, 15.10.2015, p. 8.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE