Commission Decision of 16/11/2012 declaring a concentration to be compatible with the common market (Case No COMP/M.6700 - TALISMAN / SINOPEC / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic) |EUROPEAN COMMISSION | Brussels, 16.11.2012 C(2012)8517 PUBLIC VERSION SIMPLIFIED MERGER PROCEDURE To the notifying parties: Dear Madam(s) and/or Sir(s), Subject: Case No COMP/M.6700 -TALISMAN / SINOPEC / JV Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 [1] 1. On 16 October, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Talisman Energy Inc.
(“Talisman”, Canada) and China Petrochemical Corporation (“Sinopec”, China) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control over Talisman Energy (UK) Limited (“JV”, United Kingdom), by way of a purchase of shares [2] . 2. The business activities of the undertakings concerned are: - for Talisman: exploration, development, production and marketing of crude oil, natural gas and natural gas liquids. - for Sinopec: exploration and development of resources, storage and transportation of oil and gas, refining and petrochemical production, and sale of refined products. - for JV: exploration and production of petroleum in the UK North Sea.
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(c) 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 322,24/10/2012, p.2 [3] OJ C 56, 5.3.2005, p. 32.