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BAOSTEEL / MITSUI / JV

M.11338

BAOSTEEL / MITSUI / JV
January 29, 2024
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EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 30/01/2024

In electronic form on the EUR-Lex website under document number 32024M11338

EUROPEAN COMMISSION

Brussels, 30.1.2024 C(2024) 721 final

PUBLIC VERSION

Shanghai Baosteel International Economic & Trading Co., Ltd. Room 1816, No. 151, Mohe Road Baoshan District Shanghai 201999 China

Mitsui & Co., Ltd. 2-1, Otemachi 1-chome, Chiyoda-ku Tokyo 100-8631 Japan

Dear Sir or Madam,

1.1. On 8 January 2024, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Shanghai Baosteel International Economic & Trading Co., Ltd. (‘Baosteel’, China), controlled by China Baowu Steel Group Corporation Limited (the ‘Baowu Group’, China), and Mitsui & Co., Ltd. (‘Mitsui’, Japan) will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Zhejiang Bao-Mit Precision Steel Technology Co., Ltd. (the ‘JV’, China), currently solely controlled by the Baowu Group, by way of purchase of shares. ( )

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 ( ) OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

3 ( ) OJ C, C/2024/831, 15.1.2024.

Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË – Tel. +32 22991111

2. The business activities of the undertakings concerned are the following:

– Baosteel engages in iron and steel manufacturing, processing and distribution, information technology, carbon industry and finance business,

– Mitsui is a trading, business management and project development company active in various sectors, including iron and steel products, mineral and metal resources, infrastructure projects, mobility, chemicals, energy, food resources, consumer service and IT & communication/corporate development.

3. The business activities of the JV are the following: processing and selling finished cold-rolled steel products, processing services for cold-rolled steel provided to third parties for a fee, processing and selling coated steel and electrical (silicon) steel products and distributing Baosteel’s unprocessed steel products.

4. 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 treatment for certain 4concentrations under Council Regulation (EC) No 139/2004. ( )

4 ( ) OJ C 160, 5.5.2023, p. 1 (the ‘Notice on a simplified treatment’).

5. For the reasons set out in the Notice on a simplified treatment, 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 and Article 57 of the EEA Agreement.

For the Commission

(Signed) Olivier GUERSENT Director-General

2

EUC

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