32001M2486

COMMISSION DECISION of 14/09/2001 declaring a concentration to be compatible with the common market (Case No IV/M.2486 - ITOCHU/MARUBENI/JV) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

Brussels, 14/09/2001

SG (2001) D/291379

To the notifying parties

Dear Sirs,

Subject: Case No. COMP/M.2486 - Itochu / Marubeni / JV Notification of 14.08.2001 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 [1] Publication in the Official Journal of the European Communities No. C 238, 24.08.2001, page 2.

[1] OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17.

1. On 14.08.2001, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 by which the undertakings Itochu Corporation and Marubeni Corporation acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking Japan NewCo by way of purchase of shares in a newly created company constituting a joint venture.

2. The business activities of the undertakings concerned are :

- for Itochu Corporation : production and supply of steel products, textiles, industrial machinery, electronics, chemicals, food and financial services;

- for Matubeni Corporation : production and supply of steel products, textiles, industrial machinery, electronics, chemicals, food and financial services;

- for Japan NewCo : production and supply of steel products.

3. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No. 4064/89 and of paragraph 4, subparagraph c, of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No 4064/89 [2].

[2] OJ C 217, 29.07.2000, p. 32.

4. For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No. 4064/89.

For the Commission

Mario MONTI Member of the Commission