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

On 26 September 2012, the Commission received the notification of a proposed concentration pursuant to Article 4 of Council Regulation 139/2004 by which SK Innovation Co. Ltd., Republic of Korea, (“SK”) and Continental AG, Germany, (“Continental”) will acquire, within the meaning of Article 3(4) of Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings, joint control over a newly created full function joint venture, SK Continental E-Motion, Pte. Ltd. (“JV”).

The business activities of the undertakings concerned are:

− SK is a Korean publicly listed company and part of the Korean SK Group. SK mainly operates in three business areas: petroleum exploration and production, battery separator, and battery business.

− Continental is a German publicly listed company and a supplier of the automotive industry.

− The JV will be established for purposes of developing, producing, and selling Li-ion battery systems for hybrid and electric vehicles.