Merger Notification - Announcement according to § 10 Cartel Act
LG Energy Solution, Ltd.; NEC Energy Solutions Inc. (USA)
BWB/Z-5707
On 15.10.2021 the Austrian Federal Competition Authority was notified of the following merger:
Planned purchase process
LG Energy Solution, Ltd. (South Korea) intends to acquire all shares in and sole control of NEC Energy Solutions, Inc., a US-based provider of energy storage solutions.
Business sector concerned: Other service activities.
Industry sector: S - Erbringung von sonstigen Dienstleistungen
Deadline for bringing in an application pursuant to § 11(1) Cartel Act will end on 12.11.2021.
Entrepreneurs whose legal or economic interests are affected by the merger can bring in a written statement at the Federal Competition Authority or the Federal Cartel Prosecutor within 14 days from publication date.
Note: The intervening party has no right to a certain treatment of the statement and will not gain a party position.
Non-prohibition of the merger
The Federal Competition Authority and the Federal Cartel Prosecutor have not applied for examination of the merger by the Cartel Court. The standstill obligation (§ 17 (1) Cartel Act) ends with effect from 13.11.2021 .