GE is a global, diversified manufacturing, technology and services company active in a variety of sectors including, among others, oil & gas manufacturing, technology, services and digital solutions. Rosneft is active in the exploration, development, production and sale of crude oil and natural gas and the refining and marketing of petroleum products and petrochemicals. Sibintek provides information technology (IT) solutions to Rosneft and other customers in Russia.
The Commission concluded that the proposed acquisition would raise no competition concerns because the joint venture has negligible actual and foreseen activities within the European Economic Area. The transaction was examined under the simplified merger review procedure.