Commission Decision of 09/11/2012 declaring a concentration to be compatible with the common market (Case No COMP/M.6686 - TEREX / GAZ / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic) |EUROPEAN COMMISSION | Brussels, 9.11.2012 PUBLIC VERSION C(2012) 8221 final SIMPLIFIED MERGER PROCEDURE | To the notifying parties | Dear Madam(s) and/or Sir(s), Subject: Case No COMP/M.6686 – TEREX/ GAZ/ JV Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 [1] 1. On 26.09.2012, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings Terex Corporation ("Terex", USA) and Open Joint Stock Company GAZ ("GAZ", Russia), belonging to the Basic Element Group ("Basic Element", Russia) which is ultimately controlled by Mr Oleg Deripaska (Russia), acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of Construction Equipment Corporation B.V.
("JV", the Netherlands), by way of purchase of shares. [2] 2. The business activities of the undertakings concerned are: - for Terex: manufacture of machinery and industrial products for use in various industries, including the construction, infrastructure, quarrying, manufacturing, mining, shipping, transportation, refining, energy and utility industries, - for Basic Element: operates in various segments such as energy, manufacturing, financial services, construction, aviation and agriculture and, via the GAZ Group, in the manufacture of light and medium-duty commercial vehicles, heavy-duty trucks, buses, cars, construction and road-building equipment, powertrain and automotive components in Russia, - for the JV: manufacture in Russia and distribution in Russia and other countries of the Commonwealth of Independent States of construction equipment.
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 [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 [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 314, 18;10.2012, p. 14. [3] OJ C 56, 5.3.2005, p. 32.