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 2019, the Commission received a notification of a proposed concentration pursuant to Article 3(1)(b) of Council Regulation (EC) No 139/2004, by which the Umicore group intends to acquire, through two holding companies, sole control over and 100% of the shares in, Freeport Cobalt Oy (only comprised of the cobalt refinery in Kokkola, Finland, and the downstream battery grade cobalt materials and precursors business).

The business activities for the undertakings concerned are:

− For the Umicore group: global materials technology and recycling group. Its activities are organized in three business groups: (i) Catalysis, (ii) Energy & Surface Technologies and (iii) Recycling.

− For the Target: through the refining of purchased input cobalt materials, production of battery grade cobalt materials and precursors which are sold to third parties.