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

On 6 September 2024, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 involving the acquisition by Mubadala Investment Company P.J.S.C. (Mubadala) and Tubacex, S.A. (Tubacex) within the meaning of Article 3(1), point (b) and Article 3(4) of the Merger Regulation, of joint control of two subsidiaries of Tubacex: TBX NewCo Spain, S.L.U. (Spanish JVCo) and TBX Upstream Seamless Pipes L.L.C. (UAE JVCo).

The undertakings concerned are:

Tubacex, a Spanish-headquartered company that provides complex industrial products and services, specifically focused on the energy and mobility industries and specialising in advanced stainless steels and other corrosion-resistant alloys;

Mubadala, a United Arab Emirates (UAE) public joint stock company that actively invests in a wide range of asset classes (e.g., private equity, public equities, real estate and infrastructure, alternatives and credit);

TBX NewCo Spain, S.L.U., a Spain-headquartered provider of oil country tubular goods (OCTG) with operations in Spain and Brazil; and

TBX Upstream Seamless Pipes L.L.C., a company based in Abu Dhabi, UAE, not yet operational.

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