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LINDE / HYOSUNG / JVs
M.10192
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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
1.The notified transaction, as submitted on 24 February 2021, concerns the establishment by Linde Korea Co., Ltd. and Hyosung Heavy Industries Corporation (the “Parties”) of an integrated business in South Korea which will build, own and operate one or more plants for the production of liquid hydrogen and sell and distribute liquid hydrogen in South Korea. The Parties will form two joint venture companies as part of such integrated business, one of which will produce liquid hydrogen (the “Production JV”) and the other which will market, sell and distribute such liquid hydrogen (the "Sales JV").
2.Linde Korea Co., Ltd., incorporated in South Korea, is a wholly owned subsidiary of Linde plc which is a gases and engineering company with activities in more than 100 countries worldwide.
3.Hyosung Heavy Industries Corporation, headquartered in South Korea, manufactures and sells heavy electrical equipment worldwide. It is also engaged in various areas of construction, including the areas of housing, redevelopment and reconstruction, business and commercial facilities, civil engineering and environment.
4.The Production JV will develop, construct and operate one or more plants for the production of liquid hydrogen in South Korea for sale to the Sales JV. The Sales JV will sell and distribute such liquid hydrogen to customers for use in the mobility market in South Korea. The Production JV and the Sales JV have no actual or foreseen activities within the EEA.
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.