EU Commission clears the creation of a joint venture for the production and sale of lithium-ion secondary batteries between Mitsubishi Chemical Holdings and Ube Industries

The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture between Mitsubishi Chemical Holdings Corporation (“MCHC”) and Ube Industries, Ltd (“Ube”), both of Japan. The joint venture, based in Japan, will combine the activities of MCHC and Ube in the production and sale of electrolytes for lithium-ion secondary batteries (“LIBs“), and will carry out the production and sale of electrolytes for LIBs globally.

MCHC is a chemical manufacturing company, active worldwide in performance products, industrial materials, and health care applications, including electrolytes for LIBs.

Ube is active worldwide in the chemicals, construction materials and machinery business segments.

The Commission concluded that the proposed transaction would raise no competition concerns given that the joint venture has no, or negligible, actual or foreseen activities within the European Economic Area. The transaction was examined under the simplified merger review procedure.

www.ec.europa.eu