CELEX: 32018M8820
Language: en
Date: 2018-04-04 00:00:00
Title: Commission Decision of 04/04/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.8820 - GE / ROSNEFT / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                     
                  
               
               Brussels, 4.4.2018
            
            
               C(2018) 2134 final
            
            
            
            
            
                     
                  
                  
                     
                        To the notifying parties:
                     
                  
               
            
               Subject:Case M.8820 - GE / Rosneft / JV
                  Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004
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                and Article 57 of the Agreement on the European Economic Area
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               Dear Sir or Madam,
            
            
               1.On 07 March 2018, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which General Electric Company ("GE", USA), General Electric Panafricana Holdings I B.V., Netherlands (a subsidiary of Baker Hughes, a GE company "BHGE"), controlled by GE, Rosneft Oil Company ("Rosneft", Russia), Sibintek LLC ("Sibintek", Russia), controlled by Rosneft, NewCo ("JV", Singapore / Russia) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the JV .
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               The concentration is accomplished by way of purchase of shares in a newly created company constituting a joint venture.
            
            
               2.The business activities of the undertakings concerned are:
            
            
               -GE is a global, diversified manufacturing, technology and services company. GE is made up by a number of business units, each with its own divisions. Its primary business units include: GE Renewable Energy; GE Power; BHGE; GE Healthcare; GE Aviation; GE Transportation; GE Capital; and GE Lighting;
            
            
               -BHGE is a global full-stream oil & gas manufacturing, technology, services and digital solutions company and, since July 2017, a business unit of GE;
            
            
               -Sibintek provides information technology (IT) solutions for Rosneft and other customers in Russia, including, but not limited to, supply chain management systems, infrastructure, data storage and transmission systems, engineering systems, oil exploration and production systems, power saving and power supply solutions, and others;
            
            
               -Rosneft is active in the exploration, development, production and sale of crude oil and natural gas and the refining and marketing of petroleum products and petrochemicals;
            
            
               -The JV will focus on the development, implementation, marketing, licensing and/or operation of industrial IoT apps based on the Predix Platform offered by GE.
            
            
               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.
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               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
               
         
         
            
                  
                     (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 97, 15.03.2018, p. 11.
               
               
                  
                     (4)
                  
                  
                      
                           OJ C 366, 14.12.2013, p. 5.