Glencore/FincoEnergies Merger Clearance

EC State Aid Cases

Published March 25th, 2026

Detected March 31st, 2026

Summary

The European Commission cleared Glencore plc's acquisition of FincoEnergies B.V. under Article 6(1)(b) of the EC Merger Regulation. The Commission applied the simplified treatment procedure and declared the concentration compatible with the internal market and EEA Agreement. Case M.12300.

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What changed

The European Commission issued a decision under Article 6(1)(b) clearing Glencore's proposed acquisition of sole control over FincoEnergies. The transaction involves a global natural resource company (Glencore, active in crude oil, oil products, natural gas, LNG, power and environmental products) acquiring a fuel supplier and wholesaler (FincoEnergies, primarily active in the Netherlands and Germany serving commercial end-users and wholesalers in the transport sector).

The Commission determined the notified operation falls within the scope of the Merger Regulation and qualifies for simplified treatment. No substantive competition concerns were identified. The merging parties do not need to take any specific compliance actions beyond completing the transaction in accordance with applicable conditions. This is a routine merger clearance with no penalties, obligations, or deadlines imposed.

Source document (simplified)

EUROPEAN COMMISSION

DG Competition

Case M.12300 - GLENCORE /

FINCOENERGIES

Only the English text is available and authentic. REGULATION (EC) No 139/2004

MERGER PROCEDURE

Article 6(1)(b)

Date: 25/03/2026

In electronic form on the EUR-Lex website under document number 32026M12300

Brussels, 25.3.2026 C(2026) 2127 final

PUBLIC VERSION

Glencore plc Baarermattstrasse 3 6340 Baar Switzerland

Subject: Case M.12300 - GLENCORE / FINCOENERGIES Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 ( ) and Article 57 of the Agreement on the European 1 Economic Area ( ) 2

Dear Sir or Madam,

(1) On 3 March 2026, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which Glencore plc (‘Glencore’, Jersey) will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control over the whole of the undertaking FincoEnergies B.V. (‘Finco’, Netherlands), by way of purchase of shares. ( ) 3 (2) The business activities of the undertakings concerned are the following: – Glencore is a global natural resource company active as a producer and marketer of a broad range of commodities. In the energy segment, Glencore is active in the purchase and sale of crude oil, oil products, natural gas, liquefied natural gas, power and environmental products, – Finco is a fuel supplier and wholesaler primarily active in the Netherlands and Germany, providing fuel trading and fuel distribution services, principally to commercial end-users and other wholesalers in the transport sector.

() OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty 1 on the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology of the TFEU will be used throughout this decision. () OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’). 2 () OJ C, C/2026/1516, 10.3.2026. 3

EUROPEAN COMMISSION

(3) After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(d) of the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004. ( ) 4 (4) For the reasons set out in the Notice on a simplified treatment, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.