Brussels 4 October 2024
The EU Commission has approved, under the EU Merger Regulation, the acquisition of joint control of TBX NewCo Spain S.L.U. of Spain and TBX Upstream Seamless Pipes L.L.C. of the UAE by Tubacex S.A. of Spain and Mubadala Investment Company P.J.S.C. (‘Mubadala’) of the UAE.
The transaction relates primarily to the manufacture of oil country tubes for the exploration and extraction of oil and gas.
The Commission concluded that the notified transaction would not raise competition concerns, given the limited impact on the European Economic Area. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11633.