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 June 15, 2011 the Commission received notification of a proposed concentration pursuant to Article 4 of the EC Merger Regulation, by which First Reserve Fund XII, L.P. (“First Reserve”), an investment fund of First Reserve Corporation, acquires sole control over Metallum Holding S.A. (“Metallum Holding”) and its subsidiaries by way of purchase of shares.

The business activities of the undertakings concerned are:

-- for First Reserve Corporation: investment in global energy and natural resources companies including oilfield services, energy infrastructure and power and energy reserves;

-- for Metallum Holding: collection, processing and trade of scrap metal; production of non-ferrous metals from scrap.

None of the companies controlled by First Reserve Corporation is engaged in business activities in the

collection, processing and trade of scrap metal or in the production of non-ferrous metals from scrap or

in any upstream or downstream activity. Consequently, First Reserve submits that the notified

transaction does not raise any competition concern and is eligible for the simplified procedure.