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 proposed transaction (the “Transaction”) concerns the incorporation of a joint venture company (“JV” or “Company”) by Eni S.p.A. (“ENI”) through its subsidiary Enilive S.p.A., a company organized under the laws of Italy, wholly owned by ENI, having its registered address at viale Giorgio Ribotta 51, 00144 Rome, Italy (“Enilive”) and LG Chem, Ltd., a company organized under the laws of Korea, having its registered address at 128 Yeoui-daero, Yeongdeungpo-gu, Seoul, 07336 Korea (“LGC”) (together, the “Shareholders” and each a “Shareholder”).

Based on the terms and conditions of the joint venture agreement (“JVA”) signed on 18 January 2024, the Company shall be incorporated as a joint-stock company (Chusik-hoesa in Korean) under the Laws of Korea and the name of the Company shall be LG-Eni BioRefining, Co., Ltd.

The scope of the Company’s business is to plan, design, build, operate and maintain the JV Plant and related facilities, including all machinery and equipment therein, to manufacture the Products and to sell them to Shareholders, their respective Affiliates and Third-Parties.

As explained in detail, the JV will be full function and will be jointly controlled by the Shareholders.

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