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ITOCHU / HITACHI CONSTRUCTION MACHINERY / HITACHI CONSTRUCTION MACHINERY FINANCE INDONESIA / JV
M.7469
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of 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 1.2
Description of the concentration
1.On 23 December 2014, the European Commission received the notification of a proposed
concentration pursuant to Article 4 of the Council Regulation (EC) No. 139/2004 (“EU Merger Regulation”) by which Itochu Corporation ("Itochu") and Century Tokyo Leasing Corporation ("CTL") intend to acquire, together with Hitachi Group, joint control over the undertaking PT Hitachi Construction Machinery finance Indonesia ("JV Company") within the meaning of Article 3(1)(b) of the EU Merger Regulation.
The primary business activities of the undertakings concerned are:
-For Itochu: domestic trading, import/export, overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, information and communications technology, realty, general products, insurance, logistics services, construction, and finance
-For CTL: leasing business, i.e. leasing, instalment sales, and other financial services for IT-related equipment, industrial equipment and other machinery and facilities.
-For Hitachi: manufacturing of construction machinery with a focus on hydraulic excavators. In addition, it is active in the sale of wheel loaders, off-road dump trucks and other products made by Hitachi Group companies or in partnership with major manufacturers.
1See also the Decision of the European Commission, Case No COMP/M.2486 - ITOCHU / MARUBENI / JV ,OJ 2001, C270/6.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.