Woodward 5464-275模块备件

Woodward 5464-275

[…]%由意大利钢铁公司Marcegaglia Carbon Steel S.p.A（“Marcegaglia”）持有
该公司既是Ilva的竞争对手，也是Ilva的大客户之。[…],
在交易结束时，安赛乐米塔尔将拥有约[…]%的股份
AM财团，而Marcegaglia和意大利联合圣保罗银行
Ilva集团的名债权人）将各自持有约[…]%的小股份，
两者均不会赋予Ilva资产的共同控制权。
7.
（10） 由于该交易，安赛乐米塔尔将拥有Ilva的控制权
资产
（11） 该交易构成《上市规则》3（1）（b）条所指的集中
合并条例。
3.并集维数
（12） 该交易有个联合维度，作为中规定的营业额阈值
符合《合并条例》1（2）条。全世界的总和
双方的营业额超过50亿欧元
（安赛乐米塔尔513.06亿欧元，Ilva资产[…]万欧元）
8和
各方在整个工会的总营业额超过2.5亿欧元
（安赛乐米塔尔为〔…〕百万欧元，Ilva资产为〔…百万欧元）。也不
安赛乐米塔尔和Ilva的资产在整个联盟范围内所占份额超过三分之二
同欧盟成员国内的营业额。
（13） 因此，通知的操作具有联合维度。
4.如权利要求1所述的方法
4.1.行政程序
（14） 在阶段调查期间，委员会联系了些市场参与者
参与者（包括双方的客户和竞争对手）和
根据《公约》11条，通过七份电子问卷提供信息
合并条例和电话。
（15） 2016年10月12日，委员会向双方通报了由此产生的担忧
根据“状态”会议期间对交易的初步评估。
（16） 2017年10月19日，双方提交了包括撤资在内的承诺
[缔约方提交的材料]的数量。这些承诺没有经过市场检验。
（17） 根据阶段市场调查的结果，委员会发现：
该交易引起了对其与内部市场兼容性的严重怀疑
并通过了根据《公约》6（1）（c）条提起诉讼的决定
2017年11月8日的合并条例（“6（1）（c）条决定”）。
（18） 2017年11月10日，委员会提供了些关键文件
向通知方说明案件的性质。
（19） 2017年11月18日，安赛乐米塔尔以书面形式向委员会提交了其意见
对6（1）（c）条决定的答复
2017年11月19日。
7 […]. 2016年的营业额为8。
15
（20） 2017年11月22日，在次状态会议上，委员会提供了
有机会口头讨论答复中提出的主要问题的缔约方
6条（1）款（c）项决定，并指出了它计划将其重点放在哪些事项上
进步的调查工作。
（21）在二阶段市场调查期间，委员会发出了几份请求
向双方以及三方提供信息。委员会举行了几次会议
与市场参与者通话，并以以下形式发送信息请求：
三份调查问卷，以及调查前发出的七份调查问卷
启动诉讼程序，共有1800多名收件人。此外
委员会分析了双方的内部文件。
（22）2017年12月15日，经通知方同意，委员会：
决定延长《公约》10（3）条款规定的期限
按照三条规定，合并监管共五个工作日
合并条例10条（3）款二项的句子。
（23）在二阶段市场调查结果之后，召开了次状态会议
于2017年1月16日举行，以通知通知方：
二阶段市场调查的初步结果和调查范围
委员会计划就此发表份声明的初步关切
反对意见。
（24）2018年1月18日，委员会通过了份反对声明（“SO”），
该通知已于同发送给通知方。根据SO
欧盟委员会初步认为，该交易将大幅减少
妨碍公司内部大部分市场的有效竞争
由于（i）横向不协调，合并条例2条的含义：
热轧扁钢生产和供应市场的影响，
中国的冷轧钢、热浸镀锌钢和电镀锌钢产品
欧洲经济区；以及（ii）若干市场的水平协调效应
欧洲经济区的碳钢。因此，委员会的初步结论是：
通知的集中度将与内部市场不兼容，以及
欧洲经济区的运作

Woodward 5464-275

Woodward 5464-275

[…]% is held by Marcegaglia Carbon Steel S.p.A (‘Marcegaglia’), an Italian steel company which is both a competitor of and one of the largest customers of Ilva. […], at the closing of the Transaction, ArcelorMittal would own approximately […]% of AM Consortium, while Marcegaglia and Intesa Sanpaolo S.p.A. (an Italian bank and one of Ilva Group’s creditors) would each own small shareholdings of circa […]%, neither of which will confer joint control over the Ilva assets. 7 (10) As a result of the Transaction, ArcelorMittal would have sole control of the Ilva assets. (11) The Transaction constitutes a concentration within the meaning of Article 3(1)(b) of the Merger Regulation. 3. UNION DIMENSION (12) The Transaction has a Union dimension as the turnover thresholds set out in Article 1(2) of the Merger Regulation are met. The combined aggregate worldwide turnover of the Parties is more than EUR 5 000 million (ArcelorMittal EUR 51 306 million, the Ilva assets EUR […] million) 8 and the aggregate Union-wide turnover of each of the Parties is more than EUR 250 million (ArcelorMittal EUR […] million, the Ilva assets EUR […] million). Neither ArcelorMittal nor the Ilva assets achieve more than two-thirds of their Union-wide turnover within one and the same Union Member State. (13) The notified operation therefore has a Union dimension. 4. THE PROCEDURE 4.1. The administrative procedure (14) During the Phase I investigation, the Commission contacted a number of market participants (including customers and competitors of the Parties) and requested information both through seven electronic questionnaires pursuant to Article 11 of the Merger Regulation and telephone calls. (15) On 12 October 2016, the Commission informed the Parties of the concerns resulting from the preliminary assessment of the Transaction during a 'State of Play' meeting. (16) On 19 October 2017, the Parties submitted commitments that included the divestment of [Parties' submissions]. Those commitments were not market tested. (17) Based on the results of the Phase I market investigation, the Commission found that the Transaction raised serious doubts as to its compatibility with the internal market and adopted a decision to initiate proceedings pursuant to Article 6(1)(c) of the Merger Regulation on 8 November 2017 (the 'Article 6(1)(c) decision'). (18) On 10 November 2017, the Commission provided a number of key documents illustrating the nature of the case to the Notifying Party. (19) On 18 November 2017 ArcelorMittal submitted to the Commission its comments in response to the Article 6(1)(c) decision, a revised version of which was submitted on 19 November 2017. 7 […]. 8 Turnovers relate to 2016. 15 (20) On 22 November 2017, at a state of play meeting, the Commission provided the Parties with the opportunity to discuss orally the main issues raised in the response to the Article 6(1)(c) decision and indicated the matters on which it planned to focus its further investigative efforts. (21) During the Phase II market investigation, the Commission sent several requests for information to the Parties, as well as to third parties. The Commission held several calls with market participants, and also sent requests for information in the form of three questionnaires, in addition to the seven questionnaires sent out before the initiation of the proceedings, to a total of more than 1800 addressees. Furthermore, the Commission analysed internal documents of the Parties. (22) On 15 December 2017, in agreement with the Notifying Party, the Commission decided to extend the time period set out in the first subparagraphs of Article 10(3) of the Merger Regulation by a total of five working days in accordance with the third sentence of the second subparagraph of Article 10(3) of the Merger Regulation. (23) Following the results of the Phase II market investigation, a state of play meeting was held on 16 January 2017, in order to inform the Notifying Party of the preliminary results of the Phase II market investigation and the scope of the preliminary concerns on which the Commission planned to issue a Statement of Objections. (24) On 18 January 2018, the Commission adopted a Statement of Objections (‘SO’), which was sent to the Notifying Party on the same day. According to the SO, the Commission came to the preliminary view that the Transaction would significantly impede effective competition in a substantial part of the internal market within the meaning of Article 2 of the Merger Regulation due to (i) horizontal non-coordinated effects in the markets for the production and supply of hot rolled flat carbon steel, cold rolled steel, hot dip galvanised steel and electro galvanised steel products in the EEA; and (ii) horizontal coordinated effects in a number of markets for flat carbon steel in the EEA. The Commission's preliminary conclusion was therefore that the notified concentration would be incompatible with the internal market and the functioning of the EEA Agreement. (25) The Notifying Party was granted access to the file on 19 January 2018 via CD-ROM. A data room was organised from 19 January to 29 January 2018 allowing the economic advisors of ArcelorMittal to verify confidential information of a quantitative nature, which formed part of the Commission's file. Further documents were sent on 24 January, 1 February, 2 March, 26 March, 28 March and 26 April 2018. A second data room was organised from 1 March to 2 March 2018. (26) The Ilva Group submitted its observations to the SO on 1 February 2018. (27) ArcelorMittal was given until 2 February 2018 to reply to the SO and eventually submitted its reply on the morning of 3 Febr