# Official Journal C 438/2015

| | ISSN 1977-091X |
| --- | --- |
| Official Journal
  of the European Union | C 438 |
| | |
| English edition | Information and Notices | Volume 5830 December 2015 |

ISSN 1977-091X

Official Journal

of the European Union

C 438

English edition

Information and Notices

Volume 5830 December 2015

---

| Notice No | Contents | page |
| --- | --- | --- |
| | I   Resolutions, recommendations and opinions |
| | RECOMMENDATIONS |
| | European Central Bank |
| 2015/C 438/01 | Recommendation of the European Central Bank of 17 December 2015 on dividend distribution policies (ECB/2015/49) | 1 |

Notice No

Contents

page

I   Resolutions, recommendations and opinions

RECOMMENDATIONS

European Central Bank

2015/C 438/01

Recommendation of the European Central Bank of 17 December 2015 on dividend distribution policies (ECB/2015/49)

1

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| | II   Information |
| --- | --- |
| | INFORMATION FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES |
| | European Commission |
| 2015/C 438/02 | Non-opposition to a notified concentration (Case M.7834 — Sumitomo Corporation/Sumitomo Mitsui Banking Corporation/PT Summit OTO Finance/PT OTO Multiartha) (
  1
  ) | 4 |

II   Information

INFORMATION FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES

European Commission

2015/C 438/02

Non-opposition to a notified concentration (Case M.7834 — Sumitomo Corporation/Sumitomo Mitsui Banking Corporation/PT Summit OTO Finance/PT OTO Multiartha) (
  1
  )

1

4

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| | IV   Notices |
| --- | --- |
| | NOTICES FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES |
| | European Commission |
| 2015/C 438/03 | Euro exchange rates | 5 |

IV   Notices

NOTICES FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES

European Commission

2015/C 438/03

Euro exchange rates

5

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| | V   Announcements |
| --- | --- |
| | PROCEDURES RELATING TO THE IMPLEMENTATION OF COMPETITION POLICY |
| | European Commission |
| 2015/C 438/04 | Prior notification of a concentration (Case M.7889 — Engie/REC/TEN) — Candidate case for simplified procedure (
  1
  ) | 6 |
| 2015/C 438/05 | Prior notification of a concentration (Case M.7900 — CVC Capital Partners/USS WAY LP/Moto Holdings) — Candidate case for simplified procedure (
  1
  ) | 7 |
| | OTHER ACTS |
| | European Commission |
| 2015/C 438/06 | Publication of an application pursuant to Article 50(2)(a) of Regulation (EU) No 1151/2012 of the European Parliament and of the Council on quality schemes for agricultural products and foodstuffs | 8 |

V   Announcements

PROCEDURES RELATING TO THE IMPLEMENTATION OF COMPETITION POLICY

European Commission

2015/C 438/04

Prior notification of a concentration (Case M.7889 — Engie/REC/TEN) — Candidate case for simplified procedure (
  1
  )

1

6

2015/C 438/05

Prior notification of a concentration (Case M.7900 — CVC Capital Partners/USS WAY LP/Moto Holdings) — Candidate case for simplified procedure (
  1
  )

1

7

OTHER ACTS

European Commission

2015/C 438/06

Publication of an application pursuant to Article 50(2)(a) of Regulation (EU) No 1151/2012 of the European Parliament and of the Council on quality schemes for agricultural products and foodstuffs

8

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| | |
| --- | --- |
| | (1)   Text with EEA relevance |

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(1)   Text with EEA relevance

1

| EN | |
| --- | --- |

EN

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I Resolutions, recommendations and opinions

RECOMMENDATIONS

European Central Bank

| 30.12.2015 | EN | Official Journal of the European Union | C 438/1 |
| --- | --- | --- | --- |

30.12.2015

EN

Official Journal of the European Union

C 438/1

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RECOMMENDATION OF THE EUROPEAN CENTRAL BANK

of 17 December 2015

on dividend distribution policies

(ECB/2015/49)

(2015/C 438/01)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 127(6) and Article 132 thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 34 thereof,

Having regard to Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (1), and in particular Article 4(3) thereof,

Having regard to Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17) (2),

Whereas:

Credit institutions need to continue preparing for a timely and full application of Regulation (EU) No 575/2013 of the European Parliament and of the Council (3) and Directive 2013/36/EU of the European Parliament and of the Council (4) in a challenging macroeconomic and financial environment, which exerts pressure on credit institutions' profitability and, as a result, on their capacity to build up their capital bases. Moreover, while credit institutions need to finance the economy, a conservative distribution policy is part of an adequate risk management and sound banking system. The same method that was set out in Recommendation ECB/2015/2 of the European Central Bank (5) should be applied,

HAS ADOPTED THIS RECOMMENDATION:

I.

| 1. | Credit institutions should establish dividend policies using conservative and prudent assumptions in order, after any distribution, to satisfy the applicable capital requirements.






  (a) | Credit institutions are required to satisfy the applicable minimum capital requirements (‘Pillar 1 requirements’) at all times. This includes a Common Equity Tier 1 capital ratio of 4,5 %, a Tier 1 capital ratio of 6 % and a total capital ratio of 8 % as provided for by Article 92 of Regulation (EU) No 575/2013. |
| --- | --- | --- |

1.

Credit institutions should establish dividend policies using conservative and prudent assumptions in order, after any distribution, to satisfy the applicable capital requirements.

(a)

Credit institutions are required to satisfy the applicable minimum capital requirements (‘Pillar 1 requirements’) at all times. This includes a Common Equity Tier 1 capital ratio of 4,5 %, a Tier 1 capital ratio of 6 % and a total capital ratio of 8 % as provided for by Article 92 of Regulation (EU) No 575/2013.

| (b) | Moreover, credit institutions are required to satisfy at all times the capital requirements that are imposed as a result of the applicable Decision on the Supervisory Review and Evaluation Process in application of Article 16(2)(a) of Regulation (EU) No 1024/2013 and which go beyond the Pillar 1 requirements (‘Pillar 2 requirements’). |
| --- | --- |

(b)

Moreover, credit institutions are required to satisfy at all times the capital requirements that are imposed as a result of the applicable Decision on the Supervisory Review and Evaluation Process in application of Article 16(2)(a) of Regulation (EU) No 1024/2013 and which go beyond the Pillar 1 requirements (‘Pillar 2 requirements’).

| (c) | Credit institutions are also required to satisfy the countercyclical capital and systemic buffers as referred to in Article 128(2), (3), (4) and (5) of Directive 2013/36/EU, and all other buffers adopted by national competent and designated authorities. |
| --- | --- |

(c)

Credit institutions are also required to satisfy the countercyclical capital and systemic buffers as referred to in Article 128(2), (3), (4) and (5) of Directive 2013/36/EU, and all other buffers adopted by national competent and designated authorities.

| (d) | Credit institutions are also required to satisfy their required ‘fully loaded’ (6) Common Equity Tier 1 capital ratio, their Tier 1 capital ratio and their total capital ratio by the applicable full phase-in date. This refers to the full application of the abovementioned ratios after application of the transitional provisions, as well as that of the countercyclical capital buffer and the systemic buffers referred to in Article 128(2), (3), (4) and (5) of Directive 2013/36/EU, and all other buffers adopted by national competent and designated authorities. The transitional provisions are set out in Title XI of Directive 2013/36/EU and in Part Ten of Regulation (EU) No 575/2013. |
| --- | --- |

(d)

Credit institutions are also required to satisfy their required ‘fully loaded’ (6) Common Equity Tier 1 capital ratio, their Tier 1 capital ratio and their total capital ratio by the applicable full phase-in date. This refers to the full application of the abovementioned ratios after application of the transitional provisions, as well as that of the countercyclical capital buffer and the systemic buffers referred to in Article 128(2), (3), (4) and (5) of Directive 2013/36/EU, and all other buffers adopted by national competent and designated authorities. The transitional provisions are set out in Title XI of Directive 2013/36/EU and in Part Ten of Regulation (EU) No 575/2013.

These requirements are to be met both on a consolidated level and on an individual basis unless the application of prudential requirements has been waived on an individual basis, as provided for in Articles 7 and 10 of Regulation (EU) No 575/2013.

| 2. | With regard to credit institutions paying dividends (7) in 2016 for the financial year 2015, the ECB recommends that:
  (a)   
  Category 1
  : Credit institutions that satisfy the applicable capital requirements as referred to in paragraph 1(a), (b) and (c), and which have already reached their fully loaded ratios as referred to in paragraph 1(d) as at 31 December 2015, should distribute their net profits in dividends in a conservative manner to enable them to continue to fulfil all requirements even in the case of deteriorated economic and financial conditions;
  (b)   
  Category 2
  : Credit institutions that satisfy the applicable capital requirements as referred to in paragraph 1(a), (b) and (c) as at 31 December 2015 but have not reached their fully loaded ratios as referred to paragraph 1(d) as at 31 December 2015 should distribute their net profits in dividends in a conservative manner to enable them to continue to fulfil all requirements, even in the case of deteriorated economic and financial conditions. In addition, they should in principle only pay-out dividends to the extent that, at a minimum, a linear (8) path towards the required fully loaded capital requirements as referred to in paragraph 1(d) is secured;
  (c)   
  Category 3
  : Credit institutions in breach of the requirements referred to in paragraph 1(a), (b) or (c) should in principle not distribute any dividend.
  Credit institutions that are not able to comply with this Recommendation because they consider themselves to be legally required to pay-out dividends should immediately contact their joint supervisory team. |
| --- | --- |

2.

With regard to credit institutions paying dividends (7) in 2016 for the financial year 2015, the ECB recommends that:

(a)   
  Category 1
  : Credit institutions that satisfy the applicable capital requirements as referred to in paragraph 1(a), (b) and (c), and which have already reached their fully loaded ratios as referred to in paragraph 1(d) as at 31 December 2015, should distribute their net profits in dividends in a conservative manner to enable them to continue to fulfil all requirements even in the case of deteriorated economic and financial conditions;

(b)   
  Category 2
  : Credit institutions that satisfy the applicable capital requirements as referred to in paragraph 1(a), (b) and (c) as at 31 December 2015 but have not reached their fully loaded ratios as referred to paragraph 1(d) as at 31 December 2015 should distribute their net profits in dividends in a conservative manner to enable them to continue to fulfil all requirements, even in the case of deteriorated economic and financial conditions. In addition, they should in principle only pay-out dividends to the extent that, at a minimum, a linear (8) path towards the required fully loaded capital requirements as referred to in paragraph 1(d) is secured;

(c)   
  Category 3
  : Credit institutions in breach of the requirements referred to in paragraph 1(a), (b) or (c) should in principle not distribute any dividend.

Credit institutions that are not able to comply with this Recommendation because they consider themselves to be legally required to pay-out dividends should immediately contact their joint supervisory team.

II.

This Recommendation is addressed to significant supervised entities and significant supervised groups as defined in Article 2(16) and (22) of Regulation (EU) No 468/2014 (ECB/2014/17).

III.

This Recommendation is also addressed to the national competent authorities and designated authorities with regard to less significant supervised entities and less significant supervised groups as defined in Article 2(7) and (23) of Regulation (EU) No 468/2014 (ECB/2014/17). The national competent and designated authorities are expected to apply this Recommendation to such entities and groups, as deemed appropriate (9).

Done at Frankfurt am Main, 17 December 2015.

The President of the ECB

Mario DRAGHI

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(1)  OJ L 287, 29.10.2013, p. 63.

1

(2)  OJ L 141, 14.5.2014, p. 1.

2

(3)  Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).

3

(4)  Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338).

4

(5)  Recommendation ECB/2015/2 of the European Central Bank of 28 January 2015 on dividend distribution policies (OJ C 51, 13.2.2015, p. 1).

5

(6)  All buffers at fully loaded levels except the capital conservation buffer, which would for methodological reasons be fixed at the 2016 phase-in level for the fully loaded calculations.

6

(7)  Credit institutions may have various legal forms, e.g. listed companies and non-joint stock companies such as mutuals, cooperatives or savings institutions. The term ‘dividend’ as used in this recommendation refers to any type of cash pay-out that is subject to the approval of the General Assembly.

7

(8)  In practice, this means that over a period of four years starting on 31 December 2014, credit institutions should in principle retain at least 25 % per year of the gap towards their fully loaded Common Equity Tier 1 capital ratio, their Tier 1 capital ratio and their total capital ratio, as referred to in paragraph 1(d).

8

(9)  If the recommendation is applied to less significant supervised entities and less significant supervised groups that believe themselves unable to comply because they understand themselves to be legally required to pay-out dividends, they should immediately contact their national competent authorities.

9

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II Information

INFORMATION FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES

European Commission

| 30.12.2015 | EN | Official Journal of the European Union | C 438/4 |
| --- | --- | --- | --- |

30.12.2015

EN

Official Journal of the European Union

C 438/4

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Non-opposition to a notified concentration

(Case M.7834 — Sumitomo Corporation/Sumitomo Mitsui Banking Corporation/PT Summit OTO Finance/PT OTO Multiartha)

(Text with EEA relevance)

(2015/C 438/02)

On 18 December 2015, the Commission decided not to oppose the above notified concentration and to declare it compatible with the internal market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004 (1). The full text of the decision is available only in English language and will be made public after it is cleared of any business secrets it may contain. It will be available:

| — | in the merger section of the Competition website of the Commission (http://ec.europa.eu/competition/mergers/cases/). This website provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes, |
| --- | --- |

—

in the merger section of the Competition website of the Commission (http://ec.europa.eu/competition/mergers/cases/). This website provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes,

| — | in electronic form on the EUR-Lex website (http://eur-lex.europa.eu/homepage.html?locale=en) under document number 32015M7834. EUR-Lex is the online access to the European law. |
| --- | --- |

—

in electronic form on the EUR-Lex website (http://eur-lex.europa.eu/homepage.html?locale=en) under document number 32015M7834. EUR-Lex is the online access to the European law.

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(1)  OJ L 24, 29.1.2004, p. 1.

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IV Notices

NOTICES FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES

European Commission

| 30.12.2015 | EN | Official Journal of the European Union | C 438/5 |
| --- | --- | --- | --- |

30.12.2015

EN

Official Journal of the European Union

C 438/5

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Euro exchange rates (1)

29 December 2015

(2015/C 438/03)

1 euro =

| | Currency | Exchange rate |
| --- | --- | --- |
| USD | US dollar | 1,0952 |
| JPY | Japanese yen | 131,88 |
| DKK | Danish krone | 7,4629 |
| GBP | Pound sterling | 0,74005 |
| SEK | Swedish krona | 9,1567 |
| CHF | Swiss franc | 1,0846 |
| ISK | Iceland króna | |
| NOK | Norwegian krone | 9,5115 |
| BGN | Bulgarian lev | 1,9558 |
| CZK | Czech koruna | 27,028 |
| HUF | Hungarian forint | 314,26 |
| PLN | Polish zloty | 4,2364 |
| RON | Romanian leu | 4,5370 |
| TRY | Turkish lira | 3,1878 |
| AUD | Australian dollar | 1,5056 |
| CAD | Canadian dollar | 1,5241 |
| HKD | Hong Kong dollar | 8,4882 |
| NZD | New Zealand dollar | 1,5949 |
| SGD | Singapore dollar | 1,5467 |
| KRW | South Korean won | 1 282,17 |
| ZAR | South African rand | 16,7598 |
| CNY | Chinese yuan renminbi | 7,1065 |
| HRK | Croatian kuna | 7,6383 |
| IDR | Indonesian rupiah | 15 029,86 |
| MYR | Malaysian ringgit | 4,7055 |
| PHP | Philippine peso | 51,514 |
| RUB | Russian rouble | 79,4319 |
| THB | Thai baht | 39,518 |
| BRL | Brazilian real | 4,2187 |
| MXN | Mexican peso | 18,8429 |
| INR | Indian rupee | 72,6458 |

Currency

Exchange rate

USD

US dollar

1,0952

JPY

Japanese yen

131,88

DKK

Danish krone

7,4629

GBP

Pound sterling

0,74005

SEK

Swedish krona

9,1567

CHF

Swiss franc

1,0846

ISK

Iceland króna

NOK

Norwegian krone

9,5115

BGN

Bulgarian lev

1,9558

CZK

Czech koruna

27,028

HUF

Hungarian forint

314,26

PLN

Polish zloty

4,2364

RON

Romanian leu

4,5370

TRY

Turkish lira

3,1878

AUD

Australian dollar

1,5056

CAD

Canadian dollar

1,5241

HKD

Hong Kong dollar

8,4882

NZD

New Zealand dollar

1,5949

SGD

Singapore dollar

1,5467

KRW

South Korean won

1 282,17

ZAR

South African rand

16,7598

CNY

Chinese yuan renminbi

7,1065

HRK

Croatian kuna

7,6383

IDR

Indonesian rupiah

15 029,86

MYR

Malaysian ringgit

4,7055

PHP

Philippine peso

51,514

RUB

Russian rouble

79,4319

THB

Thai baht

39,518

BRL

Brazilian real

4,2187

MXN

Mexican peso

18,8429

INR

Indian rupee

72,6458

---

(1)  Source: reference exchange rate published by the ECB.

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V Announcements

PROCEDURES RELATING TO THE IMPLEMENTATION OF COMPETITION POLICY

European Commission

| 30.12.2015 | EN | Official Journal of the European Union | C 438/6 |
| --- | --- | --- | --- |

30.12.2015

EN

Official Journal of the European Union

C 438/6

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Prior notification of a concentration

(Case M.7889 — Engie/REC/TEN)

Candidate case for simplified procedure

(Text with EEA relevance)

(2015/C 438/04)

| 1. | On 18 December 2015 the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings E.CL SA, ultimately controlled by Engie SA (‘Engie’ of France) and Red Eléctrica Chile SpA, ultimately controlled by Red Eléctrica Corporación SA (‘REC’ of Spain) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of the undertaking Transmisora Eléctrica del Norte SA (‘TEN’ of Chile) by way of purchase of shares. |
| --- | --- |

1.

On 18 December 2015 the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings E.CL SA, ultimately controlled by Engie SA (‘Engie’ of France) and Red Eléctrica Chile SpA, ultimately controlled by Red Eléctrica Corporación SA (‘REC’ of Spain) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of the undertaking Transmisora Eléctrica del Norte SA (‘TEN’ of Chile) by way of purchase of shares.

| 2. | The business activities of the undertakings concerned are:






  — | Engie is a global energy player and an expert operator in the three key sectors of electricity, natural gas and energy services, |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

Engie is a global energy player and an expert operator in the three key sectors of electricity, natural gas and energy services,

| — | REC operates the national electricity grid and power transmission system in Spain and is also active in some countries in South America, |
| --- | --- |

—

REC operates the national electricity grid and power transmission system in Spain and is also active in some countries in South America,

| — | TEN has currently no activity on the market but will develop and operate an electricity transmission line in Chile. |
| --- | --- |

—

TEN has currently no activity on the market but will develop and operate an electricity transmission line in Chile.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by e-mail to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number M.7889 — Engie/REC/TEN, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by e-mail to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number M.7889 — Engie/REC/TEN, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.

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| 30.12.2015 | EN | Official Journal of the European Union | C 438/7 |
| --- | --- | --- | --- |

30.12.2015

EN

Official Journal of the European Union

C 438/7

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Prior notification of a concentration

(Case M.7900 — CVC Capital Partners/USS WAY LP/Moto Holdings)

Candidate case for simplified procedure

(Text with EEA relevance)

(2015/C 438/05)

| 1. | On 18 December 2015, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking CVC Capital Partners SICAV-FIS SA (‘CVC Group’, Luxembourg) and the Universities Superannuation Scheme Limited (‘USS’, the United Kindgdom).acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the undertaking Moto Holdings Limited (the ‘Target’, the United Kingdom) by way of purchase of shares. |
| --- | --- |

1.

On 18 December 2015, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking CVC Capital Partners SICAV-FIS SA (‘CVC Group’, Luxembourg) and the Universities Superannuation Scheme Limited (‘USS’, the United Kindgdom).acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the undertaking Moto Holdings Limited (the ‘Target’, the United Kingdom) by way of purchase of shares.

| 2. | The business activities of the undertakings concerned are:
  —   for CVC Group: advice to and management of investment funds,
  —   for USS: acting as the sole corporate trustee of the Universities Superannuation Scheme, which is one of the largest private sector pension funds in the UK. The scheme administers the principal pension scheme for academic and comparable staff in UK universities and other higher education and research institutions,
  —   for the Target: operation of motorway service areas in the UK under the brand name ‘moto’. |
| --- | --- |

2.

The business activities of the undertakings concerned are:

—   for CVC Group: advice to and management of investment funds,

—   for USS: acting as the sole corporate trustee of the Universities Superannuation Scheme, which is one of the largest private sector pension funds in the UK. The scheme administers the principal pension scheme for academic and comparable staff in UK universities and other higher education and research institutions,

—   for the Target: operation of motorway service areas in the UK under the brand name ‘moto’.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number M.7900 — CVC Capital Partners/USS WAY LP/Moto Holdings, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number M.7900 — CVC Capital Partners/USS WAY LP/Moto Holdings, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.

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OTHER ACTS

European Commission

| 30.12.2015 | EN | Official Journal of the European Union | C 438/8 |
| --- | --- | --- | --- |

30.12.2015

EN

Official Journal of the European Union

C 438/8

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Publication of an application pursuant to Article 50(2)(a) of Regulation (EU) No 1151/2012 of the European Parliament and of the Council on quality schemes for agricultural products and foodstuffs

(2015/C 438/06)

This publication confers the right to oppose the application pursuant to Article 51 of Regulation (EU) No 1151/2012 of the European Parliament and of the Council (1).

SINGLE DOCUMENT

Council Regulation (EC) No 510/2006 on the protection of geographical indications and designations of origin for agricultural products and foodstuffs
   (2)

‘PATATA DEL FUCINO’

EC No: IT-PGI-0005-01217 – 21.3.2014

PGI ( X ) PDO ( )

1.   Name

‘Patata del Fucino’

2.   Member State or Third Country:

Member State or Third Country:

Italy

3.   Description of the agricultural product or foodstuff

Description of the agricultural product or foodstuff

3.1.   Type of product

Type of product

Class 1.6. Fruit, vegetables and cereals, fresh or processed

3.2.   Description of product to which the name in (1) applies

Description of product to which the name in (1) applies

The name ‘Patata del Fucino’ denotes the ripe tubers of the Solanum tuberosum species in the Solanaceae family. They are obtained using the seed tubers of potato varieties that are registered in the common catalogue of agricultural plant varieties.

Solanum tuberosum

The tubers have a size (diameter) that is greater than 35 mm but does not exceed 80 mm and their shape ranges from round to round-oval, oval and elongated oval. The skin does not separate from the flesh; the flesh is firm and does not yield to pressure; and the colour is typical of the variety, i.e. from white to various shades of yellow. The edible part is not less than 95 %.

The chemical characteristics (per 100 grams of the edible part) are as follows: dry residue ≥ 14, starch ≥ 8 g, potassium ≥ 300 mg, phosphorus ≥ 35 mg.

The ‘Patata del Fucino’ is harvested when the potatoes are completely ripe, from the end of July onwards. The potatoes are stored in suitable containers and can be kept until the end of the month of May following the harvest without any deterioration in their typical characteristics.

Quality tolerances

Potatoes eligible for protection, when marketed in the chosen packaging, must have the following characteristics:

| (a) | uniformity of tuber size: the size of the tubers may not be less than 35 mm or more than 80 mm; the maximum difference allowed in individual packs is 20 mm; |
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(a)

uniformity of tuber size: the size of the tubers may not be less than 35 mm or more than 80 mm; the maximum difference allowed in individual packs is 20 mm;

| (b) | the tubers must be intact, firm, clean, without sprouts and free from biotic or abiotic damage. |
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(b)

the tubers must be intact, firm, clean, without sprouts and free from biotic or abiotic damage.

3.3.   Raw materials (for processed products only)

Raw materials (for processed products only)

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3.4.   Feed (for products of animal origin only)

Feed (for products of animal origin only)

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3.5.   Specific steps in production that must take place in the identified geographical area

Specific steps in production that must take place in the identified geographical area

The ‘Patata del Fucino’ must be planted, grown and harvested in the defined geographical area.

3.6.   Specific rules concerning slicing, grating, packaging, etc.

Specific rules concerning slicing, grating, packaging, etc.

Potatoes must be stored in bins at a temperature of 4-10 °C with relative humidity of between 88 % and 95 %.

The tubers may also be kept in the refrigerator for long periods, but no longer than 9 months.

Treatments to prevent sprouting on stored tubers are allowed in accordance with the appropriate legislation in force.

When marketed for consumption, ‘Patata del Fucino’ PGI must be packaged using:

| — | Sacks: 5 kg - 20 kg; |
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Sacks: 5 kg - 20 kg;

| — | Nets: 1,5 kg - 2 kg - 2,5 kg; |
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Nets: 1,5 kg - 2 kg - 2,5 kg;

| — | Packs: vertbags, quickbags, girsacs and bags of 1,5 kg - 2 kg – 2,5 kg - 5 kg; |
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Packs: vertbags, quickbags, girsacs and bags of 1,5 kg - 2 kg – 2,5 kg - 5 kg;

| — | Cartons or crates: from 3 kg up to a maximum of 20 kg. |
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Cartons or crates: from 3 kg up to a maximum of 20 kg.

All types of packaging must contain cleaned (brushed and/or washed) potatoes and must be sealed in such a way that the tubers cannot be removed without breaking the packaging, with the exception of cartons and crates.

3.7.   Specific rules concerning labelling

Specific rules concerning labelling

In addition to the symbol of the European Union and the information required by law, the label on the packaging also contains the following wordings and information:

| — | ‘Patata del Fucino’ followed by the abbreviation ‘IGP’ (‘PGI’) or by the wording ‘Indicazione Geografica Protetta’ (‘Protected Geographical Indication’), |
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‘Patata del Fucino’ followed by the abbreviation ‘IGP’ (‘PGI’) or by the wording ‘Indicazione Geografica Protetta’ (‘Protected Geographical Indication’),

| — | name and address, or company name and registered office, of the individual producer and/or association of producers and/or the packer, |
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name and address, or company name and registered office, of the individual producer and/or association of producers and/or the packer,

| — | net weight as sold, |
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net weight as sold,

| — | variety, |
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variety,

| — | the following product logo: |
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the following product logo:

Image

It is forbidden to add any description that is not expressly provided for.

4.   Concise definition of the geographical area

Concise definition of the geographical area

The border of the growing area is marked by the Circonfucense provincial road and the area includes parts of the territory, divided by farm roads into numbered plots of land, of the following municipalities within the Province of L’Aquila: Avezzano, Celano, Cerchio, Aielli, Pescina, S. Benedetto dei Marsi, Ortucchio, Trasacco and Luco dei Marsi.

5.   Link with the geographical area

Link with the geographical area

5.1.   Specificity of the geographical area

Specificity of the geographical area

‘Patata del Fucino’ is grown on the bed of the lake of the same name, Lake Fucino, which was drained and reclaimed in 1875. This area is situated at 700 metres above sea level.

The main morphological characteristics of the land have created three distinct areas: the depression of the former lake; a terraced area at an altitude of between 670 and 720 metres; and an area with a complex morphology located above the other two areas.

Due to the presence of a former lake basin, sedimentary accumulation has outweighed the effects of erosion.

The silty-clayey soil has a large quantity of total and active limestone as a result of the carbonate nature of the pedogenic sediments. The (pH) reaction fluctuates between sub-alkaline and alkaline and there are high levels of organic matter, total nitrogen, assimilable phosphorus and exchangeable potassium.

The high content of organic matter is preserved as a result of the large quantities of manure applied regularly by farmers.

The soil composition allows good drainage and the normal development of even and regular tubers.

The particular characteristics of the area, which is bounded by mountains, mean that it is not at all affected by the sea, situated just under 80 km to the east. Instead, it has the typical features of a continental climate with very harsh, wet winters and hot, often humid summers.

During the productive season the variation in temperatures between day (around 30 °C) and night (10 °C-15 °C) favours plant growth.

The good water retention capacity of the soil and the water rising by capillarity from underlying aquifers, combined with frequent morning dews, ensure that the crops are never short of water.

Rain, snow and the characteristic dew, which often constitutes microprecipitation, complete the climatic profile of the area.

There is a good supply of water in the area thanks to the natural streams and rivers that descend from the mountains surrounding the plain and a geometrical network of canals. These were especially constructed as part of the water-engineering works undertaken by the then newly created Ente Fucino (Fucino Authority) during the agrarian reform years (1950s) with the dual purpose of draining the land and using the water to irrigate the crops, thus optimising growing conditions for farmers.

5.2.   Specificity of the product

Specificity of the product

‘Patata del Fucino’ is different from potatoes grown in other areas because of its characteristic flesh that makes it suitable for both household consumption and industrial use. ‘Patata del Fucino’ has firm flesh which does not yield to pressure, and skin which does not separate from the flesh. When steamed the flesh presents rather fine granulation and no signs of after-cooking blackening. Another much-appreciated feature is that the flesh shows little browning when fried. In a panel test carried out by trained tasters ‘Patata del Fucino’ was judged to have a pleasant flavour or a very strong potato flavour with almost no unpleasant after-tastes (metal, grass, etc.). The potatoes keep these organoleptic qualities even after months of storage.

5.3.   Causal link between the geographical area and the quality or characteristics of the product (for PDO) or a specific quality, the reputation or other characteristic of the product (for PGI)

Causal link between the geographical area and the quality or characteristics of the product (for PDO) or a specific quality, the reputation or other characteristic of the product (for PGI)

The production cycle of ‘Patata del Fucino’ spans all seasons in the geographical production area: from sowing in the spring; growth and production in the summer; to harvesting, only when potatoes are completely ripe, in late summer/autumn. This means that the potatoes benefit from the climatic effect of the different seasons.

The quality of the ‘Patata del Fucino’ is linked to the growing conditions provided by what used to be the bed of the lake. The particular features of the land mean that the potatoes can be cultivated naturally, lending the product its typical organoleptic characteristics.

The light, fresh, mostly silty and very fertile soil, naturally rich in macro and micro nutrients, organic matter and the resulting humus, produced by sedimentation of organic material over the centuries, ensures that no damage and/or cracks are caused to the surface of the potatoes during growth or harvest, thus yielding regular-shaped tubers with the skin adhering well to the flesh.

The climatic conditions described (soil composition, good capillary rise, temperature, water for irrigation) make the Fucino area particularly suited to growing potatoes. Thanks to the extensive experience of local growers, the constant efforts to improve agricultural techniques with a preference for green methods, and the protection of the growing environment, this area produces high-quality potatoes that have always been prized and well-known for their high quality on the national market.

Since 2002, many associated producers in the Fucino area have been producing potatoes in accordance with the ‘integrated production’ certification scheme and have adopted a specification that relates expressly to the ‘Patata del Fucino’; this demonstrates that the name is also used in farming/commercial language.

Several articles have been published in specialist magazines such as ‘L’Informatore Agrario’ which mention the name ‘Patata del Fucino’, the Fucino area as an area highly suited to the production of potatoes and the Fucino area as a place to test potato varieties.

| — | ‘Le varietà di patata coltivate in Italia e la loro destinazione d’uso’ (‘Potato varieties grown in Italy and their uses’) (2/2002, p. 61), |
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‘Le varietà di patata coltivate in Italia e la loro destinazione d’uso’ (‘Potato varieties grown in Italy and their uses’) (2/2002, p. 61),

‘Le varietà di patata coltivate in Italia e la loro destinazione d’uso’

| — | ‘Ecco perchè in Italia non si produce patata da seme’ (‘Why seed potatoes are not produced in Italy’) (46/2008, pp. 34-36), |
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‘Ecco perchè in Italia non si produce patata da seme’ (‘Why seed potatoes are not produced in Italy’) (46/2008, pp. 34-36),

‘Ecco perchè in Italia non si produce patata da seme’

| — | ‘Produzione di patata da seme: contributo per la valorizzazione dell’agricoltura montana’ (‘Seed potato production: helping to develop mountain farming’) (18/1997, pp. 27-29), |
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‘Produzione di patata da seme: contributo per la valorizzazione dell’agricoltura montana’ (‘Seed potato production: helping to develop mountain farming’) (18/1997, pp. 27-29),

‘Produzione di patata da seme: contributo per la valorizzazione dell’agricoltura montana’

| — | ‘Sperimentazione varietale 1998 su patata comune nel centro e nel nord’ (‘Common potato variety testing in central and northern Italy — 1998’) (48/1998, pp. 39-46). |
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‘Sperimentazione varietale 1998 su patata comune nel centro e nel nord’ (‘Common potato variety testing in central and northern Italy — 1998’) (48/1998, pp. 39-46).

‘Sperimentazione varietale 1998 su patata comune nel centro e nel nord’

Over the years, many activities have been organised by local operators for the promotion and development of ‘Patata del Fucino’. These include:

| — | the ‘Sagra della Patata’ (‘Potato Festival’] has been organised since 1971 in the Fucino area, specifically in the Municipality of Avezzano, |
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the ‘Sagra della Patata’ (‘Potato Festival’] has been organised since 1971 in the Fucino area, specifically in the Municipality of Avezzano,

‘Sagra della Patata’

| — | in 2008, the International Year of the Potato as declared by the FAO, growers of the ‘Patata del Fucino’ provided technical support and agricultural tools to the Zadrima region of Albania, under the ‘Albania Project’ cooperation project, |
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in 2008, the International Year of the Potato as declared by the FAO, growers of the ‘Patata del Fucino’ provided technical support and agricultural tools to the Zadrima region of Albania, under the ‘Albania Project’ cooperation project,

| — | in 2001, an episode of the television programme ‘Il Gusto’ (‘Taste’) dedicated to the ‘Patata del Fucino’ was broadcast on the Canale 5 channel, |
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in 2001, an episode of the television programme ‘Il Gusto’ (‘Taste’) dedicated to the ‘Patata del Fucino’ was broadcast on the Canale 5 channel,

| — | in 1993, the ‘Patata del Fucino’ name was brought to the attention of the nation in an episode of the television programme ‘Linea Verde’ (‘Green Line’) broadcast by state broadcaster RAI. |
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in 1993, the ‘Patata del Fucino’ name was brought to the attention of the nation in an episode of the television programme ‘Linea Verde’ (‘Green Line’) broadcast by state broadcaster RAI.

Reference to publication of the specification

Reference to publication of the specification

(Article 5(7) of Regulation (EC) No 510/2006 (3))

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The Ministry launched the national objection procedure with the publication of the proposal for recognising ‘Patata del Fucino’ PGI in Official Gazette of the Italian Republic No 37 of 14 February 2014.

The full text of the product specification is available on the internet: http://www.politicheagricole.it/flex/cm/pages/ServeBLOB.php/L/IT/IDPagina/3335

or alternatively:

by going directly to the home page of the Ministry of Agricultural, Food and Forestry Policy (www.politicheagricole.it) and clicking on ‘Prodotti DOP IGP’ (at the top right-hand side of the screen), then on ‘Prodotti DOP IGP STG’ (on the left-hand side of the screen), and finally on ‘Disciplinari di Produzione all’esame dell’UE’.

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(1)  OJ L 343, 14.12.2012, p. 1.

1

(2)  OJ L 93, 31.3.2006, p. 12. Replaced by Regulation (EU) No 1151/2012.

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(3)  See footnote 2.

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