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PROMAN / VALENZ
M.11698
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 4 of Short Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 4
Description of the concentration
The European Commission has received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Proman AG (“Proman” or “the Buyer”) will acquire, within the meaning of Article 3(1), point (b), sole control of Valenz Holding AG (“Valenz” or “the Target”), currently owned and jointly controlled by Proman and MFH Holding GesmbH (“MFH”). The Target is a holding company that operates through its wholly-owned subsidiary, Valenz AG. MFH is a subsidiary of HELM AG. The concentration is accomplished by way of purchase of shares. In addition, MFH will acquire a minority shareholding of Valenz Distribution GmbH (“VD”), currently wholly-owned by Proman. VD will eventually merge into Valenz AG.
As a result of the proposed concentration, Proman will solely control Valenz, and MFH will remain a minority shareholder.
The business activities of Proman and Valenz are as follows:
• Proman is a company headquartered in Switzerland that produces methanol. It also produces fertilizers (ammonium and urea ammonium nitrate), as well as melamine. Proman is active in Europe, North and South America and in Asia. Proman has methanol production facilities in Trinidad and Tobago, and owns participations in production facilities in the United States and Oman. Proman delivers methanol exclusively to Valenz.
• Valenz is a company headquartered in Switzerland, whose current main activity is marketing and distributing Proman’s methanol to customers worldwide.
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