CELEX: 32014M7303
Language: en
Date: 2014-07-29 00:00:00
Title: Commission Decision of 29/07/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7303 - PTTGC / VENCOREX) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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                                        Brussels, 29.07.2014
                                        C(2014) 5538 final

To the notifying party:

Dear Sirs,

Subject:    Case M.7303 – PTTGC / VENCOREX
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

   1. On 02.07.2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation  by
      which the undertaking PTTGC International B.V. ("PTTGC", Netherlands) ultimately controlled by PTT Public  Company  Limited  ("PTT  Group",
      Thailand) acquires within the meaning of Article 3(1)(b) of the Merger Regulation, sole control of the whole of  the  undertaking  Vencorex
      Holding S.A.S. ("Vencorex", France) by way of purchase of shares. Vencorex is currently jointly controlled by PTTGC  and  Perstorp  Holding
      A.B. ("Perstorp", Sweden).

   2. The business activities of the undertakings concerned are:

      -     for PTT Group: active globally in the field of energy, natural gas, distribution of  refined fuels,  LPG  and  lubricating  products,
           procurement, importation, exportation and international trading of crude oil, condensate, petroleum  and  petrochemical  products  as
           well as other specialty substances, production of downstream petrochemical products, refining, marketing and logistics of polymers.

      -     for Vencorex: active globally in the manufacture of various chemical products among which toluene diisocyanate (TDI)  and  raffinates
           used primarily in the manufacturing of polyurethanes foams and coatings; Aliphatic diisocyanates (HDI and IPDI) used  in  performance
           coating applications; Chlor-alkali (chlorine and caustic soda).[2]

   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 paragraphs 5(c) and (d) 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 219, 11.07.2014, p. 11.
[3]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE