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: 25/10/2022

In electronic form on the EUR-Lex website under document number 32022M10886

EUROPEAN COMMISSION

Brussels, 25.10.2022 C(2022) 7834 final

PUBLIC VERSION

INEOS AG 3 Avenue des Uttins CH – 1180 Rolle Switzerland

China Petroleum and Chemical Corporation 22 Chaoyangmen North Street Chaoyang district, Beijing The People's Republic of China

1(EC) No 139/2004and Article 57 of the Agreement on the European Economic Area

Dear Sir or Madam,

2.1. On 30 September 2022, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which INEOS AG (‘INEOS’, Switzerland) and China Petroleum and Chemical Corporation (‘Sinopec’, China) will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Shanghai SECCO Petrochemical Co., Ltd. (‘Shanghai SECCO Petrochemical’, China), controlled by Sinopec. The concentration is accomplished by way of purchase of shares.

2. The business activities of the undertakings concerned are the following:

 INEOS is a privately owned conglomerate company that produces a range of chemicals including petrochemicals, specialty chemicals and oil products,

 Sinopec is a petroleum and petrochemical state-owned enterprise,

1 OJ 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.

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

3 Publication in the Official Journal of the European Union No C 388, 10.10.2022, p. 7.

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.

 Shanghai SECCO Petrochemical is a China-based producer of propylene, polypropylene, acrylonitrile, ethylene, polyethylene, styrene, polystyrene, butadiene and toluene.

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) Olivier GUERSENT Director-General

4 OJ C 366, 14.12.2013, p. 5.

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