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: 28/03/2018

In electronic form on the EUR-Lex website under document number 32018M8840

EUROPEAN COMMISSION

Brussels, 28.3.2018 C(2018) 2081 final

PUBLIC VERSION

To the notifying parties

Dear Sir or Madam,

1.1. On 2 March 2018, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which AION Investments Private II Limited, controlled by investment funds managed by affiliates of Apollo Capital Management, L.P.('Apollo') (USA), and JSW Steel Limited ('JSW') (India) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Monnet Ispat and Energy Limited ('Monnet') (India).

2. The business activities of the undertakings concerned are:

–– for Apollo: Affiliates of Apollo invest in companies and debt issued by companies in various businesses throughout the world. Examples of current investments include, inter alia, companies in the chemical, cruise line, hospital, security, financial services and glass packaging businesses.

–– for JSW: JSW is an Indian-based company engaged in the manufacture and sale of iron and steel products in India and abroad. In India, JSW’s plants are located across Karnataka, Tamil Nadu and Maharashtra. Outside of India, JSW owns a plate and pipe mill in the United States, and mining assets in the United States and elsewhere.

1OJ 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.

2OJ L 1, 3.1.1994, p. 3 (the 'EEA Agreement').

3Publication in the Official Journal of the European Union No C 96, 14.3.2018, p. 33

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.

– for Monnet: Monnet is an Indian-based company engaged in the manufacture and sale of primary steel and sponge iron, steel and ferroalloys. Monnet is also active in the mining of minerals like coal and iron ore in India.

3.3. 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 procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

4.4. For the reasons set out in the Notice on a simplified procedure, 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) Johannes LAITENBERGER Director-General

4OJ C 366, 14.12.2013, p. 5.

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