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 18 October 2017, the Commission received notification of a proposed concentration pursuant to which BP p.l.c. (“BP”) and Bridas Corporation (“Bridas”) will acquire joint control of Axion Energy Holding S.L. (“Axion”).

-− BP is active in (i) exploration, production and marketing of crude oil and natural gas, (ii) refining, marketing, supply and transportation of petroleum products, (iii) petrochemicals and related products and (iv) alternative energy.

-− Bridas is a holding entity that has ownership interests in companies that are active in (i) exploration and development of crude oil and natural gas reserves and the production of crude oil and natural gas, (ii) marketing and transportation of crude oil, natural gas and petroleum products, (iii) gathering, treatment, processing and distribution of natural gas and power generation, (iv) drilling and well services and (v) refining, production and sale of fuels, lubricants and associated derivative petrochemicals.

-− Axion is active in the refining of crude oil and the sale (including retail sale) of petroleum products and its derivatives (including fuels, lubricants, LPG and chemicals) in Argentina, Uruguay and Paraguay. It refines, manufactures, sells and distributes automobile, aviation, marine and agricultural fuels and lubricants, greases and coolants.

The proposed transaction does not give rise to any competition concerns. Axion is not active in the EEA. There are no horizontal or vertical reportable or affected markets in, or including, the EEA.

BP and Bridas consider that the proposed transaction qualifies for notification by Short Form CO.

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.