# Official Journal C 139/2017

| | ISSN 1977-091X |
| --- | --- |
| Official Journal
  of the European Union | C 139 |
| | |
| English edition | Information and Notices | Volume 604 May 2017 |

ISSN 1977-091X

Official Journal

of the European Union

C 139

English edition

Information and Notices

Volume 604 May 2017

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| Notice No | Contents | page |
| --- | --- | --- |
| | IV   Notices |
| | NOTICES FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES |
| | European Commission |
| 2017/C 139/01 | Interest rate applied by the European Central Bank to its main refinancing operations: 0,00 % on 1 May 2017 — Euro exchange rates | 1 |
| 2017/C 139/02 | Opinion of the Advisory Committee on mergers given at its meeting of 31 August 2015 regarding a draft decision relating to Case M.7278 — General Electric/ALSTOM (Thermal Power — Renewable Power & Grid Business) — Rapporteur: United Kingdom | 2 |
| 2017/C 139/03 | Final Report of the Hearing Officer — General Electric/Alstom (Thermal Power — Renewable Power & Grid Business) (Case M.7278) | 4 |
| 2017/C 139/04 | Summary of Commission Decision of 8 September 2015 declaring a concentration compatible with the internal market and the functioning of the EEA Agreement (Case M.7278 — General Electric/Alstom (Thermal Power — Renewable Power & Grid Business)) (notified under document number C(2015) 6179 final)
   (
  1
  ) | 6 |
| | NOTICES FROM MEMBER STATES |
| 2017/C 139/05 | Applicable Transport Arrangements in the euro-area Member States (Article 13(5)) and in Andorra, Monaco, San Marino and the Vatican (Regulation (EU) No 1214/2011 of the European Parliament and of the Council on the cross-border transport of euro cash by road between euro-area Member States) | 14 |
| 2017/C 139/06 | List of accounts that are to be treated as Excluded Accounts for the purposes of subparagraph C.17(g) of Section VIII of Annex I of Council Directive 2011/16/EU | 24 |
| | NOTICES CONCERNING THE EUROPEAN ECONOMIC AREA |
| | EFTA Surveillance Authority |
| 2017/C 139/07 | EFTA Surveillance Authority notice on state aid recovery interest rates and reference/discount rates for the EFTA States applicable as from 1 January 2017(Published in accordance with the rules on reference and discount rates set out in Part VII of the Authority’s State Aid Guidelines and Article 10 of the Authority’s Decision No 195/04/COL of 14 July 2004) | 30 |

Notice No

Contents

page

IV   Notices

NOTICES FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES

European Commission

2017/C 139/01

Interest rate applied by the European Central Bank to its main refinancing operations: 0,00 % on 1 May 2017 — Euro exchange rates

1

2017/C 139/02

Opinion of the Advisory Committee on mergers given at its meeting of 31 August 2015 regarding a draft decision relating to Case M.7278 — General Electric/ALSTOM (Thermal Power — Renewable Power & Grid Business) — Rapporteur: United Kingdom

2

2017/C 139/03

Final Report of the Hearing Officer — General Electric/Alstom (Thermal Power — Renewable Power & Grid Business) (Case M.7278)

4

2017/C 139/04

Summary of Commission Decision of 8 September 2015 declaring a concentration compatible with the internal market and the functioning of the EEA Agreement (Case M.7278 — General Electric/Alstom (Thermal Power — Renewable Power & Grid Business)) (notified under document number C(2015) 6179 final)
   (
  1
  )

(notified under document number C(2015) 6179 final)

1

6

NOTICES FROM MEMBER STATES

2017/C 139/05

Applicable Transport Arrangements in the euro-area Member States (Article 13(5)) and in Andorra, Monaco, San Marino and the Vatican (Regulation (EU) No 1214/2011 of the European Parliament and of the Council on the cross-border transport of euro cash by road between euro-area Member States)

(Regulation (EU) No 1214/2011 of the European Parliament and of the Council on the cross-border transport of euro cash by road between euro-area Member States)

14

2017/C 139/06

List of accounts that are to be treated as Excluded Accounts for the purposes of subparagraph C.17(g) of Section VIII of Annex I of Council Directive 2011/16/EU

24

NOTICES CONCERNING THE EUROPEAN ECONOMIC AREA

EFTA Surveillance Authority

2017/C 139/07

EFTA Surveillance Authority notice on state aid recovery interest rates and reference/discount rates for the EFTA States applicable as from 1 January 2017(Published in accordance with the rules on reference and discount rates set out in Part VII of the Authority’s State Aid Guidelines and Article 10 of the Authority’s Decision No 195/04/COL of 14 July 2004)

(Published in accordance with the rules on reference and discount rates set out in Part VII of the Authority’s State Aid Guidelines and Article 10 of the Authority’s Decision No 195/04/COL of 14 July 2004)

30

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| | V   Announcements |
| --- | --- |
| | PROCEDURES RELATING TO THE IMPLEMENTATION OF COMPETITION POLICY |
| | European Commission |
| 2017/C 139/08 | Prior notification of a concentration (Case M.8399 — CWS-boco/Rentokil Initial Target Businesses) (
  1
  ) | 31 |

V   Announcements

PROCEDURES RELATING TO THE IMPLEMENTATION OF COMPETITION POLICY

European Commission

2017/C 139/08

Prior notification of a concentration (Case M.8399 — CWS-boco/Rentokil Initial Target Businesses) (
  1
  )

1

31

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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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IV Notices

NOTICES FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES

European Commission

| 4.5.2017 | EN | Official Journal of the European Union | C 139/1 |
| --- | --- | --- | --- |

4.5.2017

EN

Official Journal of the European Union

C 139/1

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Interest rate applied by the European Central Bank to its main refinancing operations (1):

0,00 % on 1 May 2017

Euro exchange rates (2)

3 May 2017

(2017/C 139/01)

1 euro =

| | Currency | Exchange rate |
| --- | --- | --- |
| USD | US dollar | 1,0919 |
| JPY | Japanese yen | 122,47 |
| DKK | Danish krone | 7,4372 |
| GBP | Pound sterling | 0,84440 |
| SEK | Swedish krona | 9,6273 |
| CHF | Swiss franc | 1,0812 |
| ISK | Iceland króna | |
| NOK | Norwegian krone | 9,3878 |
| BGN | Bulgarian lev | 1,9558 |
| CZK | Czech koruna | 26,871 |
| HUF | Hungarian forint | 312,15 |
| PLN | Polish zloty | 4,1913 |
| RON | Romanian leu | 4,5485 |
| TRY | Turkish lira | 3,8603 |
| AUD | Australian dollar | 1,4615 |
| CAD | Canadian dollar | 1,4990 |
| HKD | Hong Kong dollar | 8,4967 |
| NZD | New Zealand dollar | 1,5768 |
| SGD | Singapore dollar | 1,5229 |
| KRW | South Korean won | 1 235,52 |
| ZAR | South African rand | 14,5730 |
| CNY | Chinese yuan renminbi | 7,5267 |
| HRK | Croatian kuna | 7,4493 |
| IDR | Indonesian rupiah | 14 528,28 |
| MYR | Malaysian ringgit | 4,7159 |
| PHP | Philippine peso | 54,583 |
| RUB | Russian rouble | 62,5464 |
| THB | Thai baht | 37,654 |
| BRL | Brazilian real | 3,4424 |
| MXN | Mexican peso | 20,5365 |
| INR | Indian rupee | 70,0540 |

Currency

Exchange rate

USD

US dollar

1,0919

JPY

Japanese yen

122,47

DKK

Danish krone

7,4372

GBP

Pound sterling

0,84440

SEK

Swedish krona

9,6273

CHF

Swiss franc

1,0812

ISK

Iceland króna

NOK

Norwegian krone

9,3878

BGN

Bulgarian lev

1,9558

CZK

Czech koruna

26,871

HUF

Hungarian forint

312,15

PLN

Polish zloty

4,1913

RON

Romanian leu

4,5485

TRY

Turkish lira

3,8603

AUD

Australian dollar

1,4615

CAD

Canadian dollar

1,4990

HKD

Hong Kong dollar

8,4967

NZD

New Zealand dollar

1,5768

SGD

Singapore dollar

1,5229

KRW

South Korean won

1 235,52

ZAR

South African rand

14,5730

CNY

Chinese yuan renminbi

7,5267

HRK

Croatian kuna

7,4493

IDR

Indonesian rupiah

14 528,28

MYR

Malaysian ringgit

4,7159

PHP

Philippine peso

54,583

RUB

Russian rouble

62,5464

THB

Thai baht

37,654

BRL

Brazilian real

3,4424

MXN

Mexican peso

20,5365

INR

Indian rupee

70,0540

---

(1)  Rate applied to the most recent operation carried out before the indicated day. In the case of a variable rate tender, the interest rate is the marginal rate.

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

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| 4.5.2017 | EN | Official Journal of the European Union | C 139/2 |
| --- | --- | --- | --- |

4.5.2017

EN

Official Journal of the European Union

C 139/2

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Opinion of the Advisory Committee on mergers given at its meeting of 31 August 2015 regarding a draft decision relating to Case M.7278 — General Electric/ALSTOM (Thermal Power — Renewable Power & Grid Business)

Rapporteur: United Kingdom

(2017/C 139/02)

Operation

| 1. | The Advisory Committee agrees with the Commission that the Transaction constitutes a concentration within the meaning of Article 3(1)(b) of the Merger Regulation. |
| --- | --- |

1.

The Advisory Committee agrees with the Commission that the Transaction constitutes a concentration within the meaning of Article 3(1)(b) of the Merger Regulation.

Union Dimension

| 2. | The Advisory Committee agrees with the Commission that the Transaction has a Union dimension pursuant to Article 1(2) of the Merger Regulation. |
| --- | --- |

2.

The Advisory Committee agrees with the Commission that the Transaction has a Union dimension pursuant to Article 1(2) of the Merger Regulation.

Product and Geographic Market

| 3. | The Advisory Committee agrees with the Commission’s definitions of the relevant product and geographic markets as stated in the draft decision. |
| --- | --- |

3.

The Advisory Committee agrees with the Commission’s definitions of the relevant product and geographic markets as stated in the draft decision.

| 4. | In particular the Advisory Committee agrees with the Commission’s conclusions that, for the purpose of assessing the Transaction, 50 Hz Heavy Duty Gas Turbines (‘HDGTs’) with an output above 90 MW, including (i) the associated initial servicing and (ii) the supply of the gas turbine control system, constitute a separate relevant product market. |
| --- | --- |

4.

In particular the Advisory Committee agrees with the Commission’s conclusions that, for the purpose of assessing the Transaction, 50 Hz Heavy Duty Gas Turbines (‘HDGTs’) with an output above 90 MW, including (i) the associated initial servicing and (ii) the supply of the gas turbine control system, constitute a separate relevant product market.

| 5. | In particular the Advisory Committee agrees with the Commission’s conclusions that the issue whether the 50 Hz HDGT market shall be further segmented on the basis of different output classes (Medium, Large and Very Large) and on the basis of different plant configurations (Combined Cycle and Simple Cycle) can be left open. |
| --- | --- |

5.

In particular the Advisory Committee agrees with the Commission’s conclusions that the issue whether the 50 Hz HDGT market shall be further segmented on the basis of different output classes (Medium, Large and Very Large) and on the basis of different plant configurations (Combined Cycle and Simple Cycle) can be left open.

| 6. | The Advisory Committee agrees with the Commission’s conclusions as to the following relevant product markets:






  6.1. | For the servicing of each of the Parties’ HDGT mature frame; |
| --- | --- | --- |

6.

The Advisory Committee agrees with the Commission’s conclusions as to the following relevant product markets:

6.1.

For the servicing of each of the Parties’ HDGT mature frame;

| 6.2. | For generators for thermal power plants; |
| --- | --- |

6.2.

For generators for thermal power plants;

| 6.3. | For servicing of generators; |
| --- | --- |

6.3.

For servicing of generators;

| 6.4. | For large steam turbines (‘LSTs’); |
| --- | --- |

6.4.

For large steam turbines (‘LSTs’);

| 6.5. | For the servicing of steam turbines; |
| --- | --- |

6.5.

For the servicing of steam turbines;

| 6.6. | For Heat Recovery Steam Generators for thermal power plants; |
| --- | --- |

6.6.

For Heat Recovery Steam Generators for thermal power plants;

| 6.7. | For plant and unit control systems for thermal power plants; |
| --- | --- |

6.7.

For plant and unit control systems for thermal power plants;

| 6.8. | For transmission and distribution products (namely, fixed series compensation and network management systems). |
| --- | --- |

6.8.

For transmission and distribution products (namely, fixed series compensation and network management systems).

| 7. | The Advisory Committee agrees with the Commission’s conclusions that, for the purpose of assessing the Transaction, the issue whether the geographic scope of the market for 50 Hz HDGTs, (including the associated initial servicing and the supply of the gas turbine control system) and its potential segments should be considered as worldwide (excluding China and Iran) or EEA-wide can be left open. |
| --- | --- |

7.

The Advisory Committee agrees with the Commission’s conclusions that, for the purpose of assessing the Transaction, the issue whether the geographic scope of the market for 50 Hz HDGTs, (including the associated initial servicing and the supply of the gas turbine control system) and its potential segments should be considered as worldwide (excluding China and Iran) or EEA-wide can be left open.

| 8. | The Advisory Committee agrees with the Commission’s conclusions as to the following relevant geographic markets:






  8.1. | The market for generators bundled with 50 Hz HDGTs; |
| --- | --- | --- |

8.

The Advisory Committee agrees with the Commission’s conclusions as to the following relevant geographic markets:

8.1.

The market for generators bundled with 50 Hz HDGTs;

| 8.2. | The overall market for generators for thermal power plants; |
| --- | --- |

8.2.

The overall market for generators for thermal power plants;

| 8.3. | The market for steam turbines bundled with 50 Hz HDGTs; |
| --- | --- |

8.3.

The market for steam turbines bundled with 50 Hz HDGTs;

| 8.4. | The overall market for steam turbines for thermal power plants; |
| --- | --- |

8.4.

The overall market for steam turbines for thermal power plants;

| 8.5. | The market for plant and unit control systems; |
| --- | --- |

8.5.

The market for plant and unit control systems;

| 8.6. | The market for HRSGs; |
| --- | --- |

8.6.

The market for HRSGs;

| 8.7. | The market for the servicing of mature HDGTs; |
| --- | --- |

8.7.

The market for the servicing of mature HDGTs;

| 8.8. | The market for the servicing of generators; |
| --- | --- |

8.8.

The market for the servicing of generators;

| 8.9. | The market for the servicing of steam turbines; |
| --- | --- |

8.9.

The market for the servicing of steam turbines;

| 8.10. | The market for the transmission and distribution products. |
| --- | --- |

8.10.

The market for the transmission and distribution products.

Competitive Assessment

| 9. | The Advisory Committee agrees with the Commission’s assessment that the Transaction leads to a significant impediment to effective competition in the market for 50 Hz HDGTs, and in particular in the Large and Very Large 50 Hz HDGT segments. |
| --- | --- |

9.

The Advisory Committee agrees with the Commission’s assessment that the Transaction leads to a significant impediment to effective competition in the market for 50 Hz HDGTs, and in particular in the Large and Very Large 50 Hz HDGT segments.

| 10. | The Advisory Committee agrees with the Commission’s assessment that the Transaction leads to a significant impediment to effective competition in the market for generators bundled with 50 Hz HDGTs. |
| --- | --- |

10.

The Advisory Committee agrees with the Commission’s assessment that the Transaction leads to a significant impediment to effective competition in the market for generators bundled with 50 Hz HDGTs.

| 11. | The Advisory Committee agrees with the Commission’s assessment that the Transaction leads to a significant impediment to effective competition in the market for LSTs bundled with 50 Hz HDGTs. |
| --- | --- |

11.

The Advisory Committee agrees with the Commission’s assessment that the Transaction leads to a significant impediment to effective competition in the market for LSTs bundled with 50 Hz HDGTs.

| 12. | The Advisory Committee agrees with the Commission’s assessment that the Transaction leads to a significant impediment to effective competition in the market for servicing GE’s 9FA HDGTs, and its segments (i.e. the three core services and upgrades). |
| --- | --- |

12.

The Advisory Committee agrees with the Commission’s assessment that the Transaction leads to a significant impediment to effective competition in the market for servicing GE’s 9FA HDGTs, and its segments (i.e. the three core services and upgrades).

| 13. | The Advisory Committee agrees with the Commission that the final commitments offered by the notifying party on 6 August 2015 address the competition concerns identified by the Commission. |
| --- | --- |

13.

The Advisory Committee agrees with the Commission that the final commitments offered by the notifying party on 6 August 2015 address the competition concerns identified by the Commission.

| 14. | The Advisory Committee agrees with the Commission that, subject to the full compliance with the final commitments offered by the notifying party on 6 August 2015, the Transaction is not likely to significantly impede effective competition in the internal market or in a substantial part of it. |
| --- | --- |

14.

The Advisory Committee agrees with the Commission that, subject to the full compliance with the final commitments offered by the notifying party on 6 August 2015, the Transaction is not likely to significantly impede effective competition in the internal market or in a substantial part of it.

| 15. | The Advisory Committee agrees with the Commission’s assessment that the notified transaction is unlikely to give rise to horizontal effects that would lead to a significant impediment of effective competition in the following affected markets and potential markets: (i) the markets for other components of thermal power plants (namely, generators, steam turbines, HRSGs, plant and unit control systems); (ii) the market for the servicing of generators; (iii) the market for the servicing of steam turbines; (iv) the potential markets for network management systems, energy management systems and wide area management systems; (v) the potential markets for fixed series compensation systems. |
| --- | --- |

15.

The Advisory Committee agrees with the Commission’s assessment that the notified transaction is unlikely to give rise to horizontal effects that would lead to a significant impediment of effective competition in the following affected markets and potential markets: (i) the markets for other components of thermal power plants (namely, generators, steam turbines, HRSGs, plant and unit control systems); (ii) the market for the servicing of generators; (iii) the market for the servicing of steam turbines; (iv) the potential markets for network management systems, energy management systems and wide area management systems; (v) the potential markets for fixed series compensation systems.

Compatibility with Internal Market

| 16. | The Advisory Committee agrees with the Commission that the Transaction should therefore be declared compatible with the internal market and the functioning of the EEA Agreement in accordance with Article 2(2) and 8(2) of the Merger Regulation and Article 57 of the EEA Agreement. |
| --- | --- |

16.

The Advisory Committee agrees with the Commission that the Transaction should therefore be declared compatible with the internal market and the functioning of the EEA Agreement in accordance with Article 2(2) and 8(2) of the Merger Regulation and Article 57 of the EEA Agreement.

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| 4.5.2017 | EN | Official Journal of the European Union | C 139/4 |
| --- | --- | --- | --- |

4.5.2017

EN

Official Journal of the European Union

C 139/4

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Final Report of the Hearing Officer (1)

General Electric/Alstom

(Thermal Power — Renewable Power & Grid Business)

(Case M.7278)

(2017/C 139/03)

INTRODUCTION

| 1. | On 19 January 2015, the European Commission (the ‘Commission’) received a notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking General Electric Company (‘GE’) would acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the Thermal Power, Renewable Power and Grid businesses of Alstom Société Anonyme (‘Alstom’, GE and Alstom are together referred to as the ‘Parties’) by way of purchase of shares (‘the Proposed Transaction’). |
| --- | --- |

1.

On 19 January 2015, the European Commission (the ‘Commission’) received a notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking General Electric Company (‘GE’) would acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the Thermal Power, Renewable Power and Grid businesses of Alstom Société Anonyme (‘Alstom’, GE and Alstom are together referred to as the ‘Parties’) by way of purchase of shares (‘the Proposed Transaction’).

| 2. | Based on the first phase investigation, the Commission raised serious doubts as to the compatibility of the transaction with the internal market and with the functioning of the EEA Agreement and on 23 February 2015, it adopted a decision to initiate proceedings pursuant to Article 6(1)(c) of the Merger Regulation (‘the Article 6(1)(c) Decision’). |
| --- | --- |

2.

Based on the first phase investigation, the Commission raised serious doubts as to the compatibility of the transaction with the internal market and with the functioning of the EEA Agreement and on 23 February 2015, it adopted a decision to initiate proceedings pursuant to Article 6(1)(c) of the Merger Regulation (‘the Article 6(1)(c) Decision’).

Statement of Objections

| 3. | On 12 June 2015, the Commission adopted a Statement of Objections (‘SO’), in which it reached the preliminary view that the Proposed Transaction would significantly impede effective competition via non-coordinated effects with respect to the markets for the supply of 50 Hz Heavy Duty Gas Turbines (‘HDGTs’), generators bundled with 50 Hz HDGTs, Large Steam Turbines bundled with 50 Hz HDGTs and servicing of GE’s 9FA HDGTs. |
| --- | --- |

3.

On 12 June 2015, the Commission adopted a Statement of Objections (‘SO’), in which it reached the preliminary view that the Proposed Transaction would significantly impede effective competition via non-coordinated effects with respect to the markets for the supply of 50 Hz Heavy Duty Gas Turbines (‘HDGTs’), generators bundled with 50 Hz HDGTs, Large Steam Turbines bundled with 50 Hz HDGTs and servicing of GE’s 9FA HDGTs.

| 4. | The Parties replied to the SO on 26 June 2015. |
| --- | --- |

4.

The Parties replied to the SO on 26 June 2015.

Access to the file

| 5. | After notification of the Article 6(1)(c) Decision, the Parties requested access to certain documents claiming that they amounted to ‘key documents’ within the meaning of paragraph 45 of Merger Best Practice Guidelines (‘Best Practices’) (2). DG Competition gave access to a set of key documents relied upon in the 6(1)(c) Decision. The Parties however requested to have full access to the entire set of responses of customers and competitors to the questionnaires sent by the Commission during the phase I market investigation claiming that they amounted to ‘key documents’. DG Competition considered the request to exceed the definition of ‘key documents’ but, in order to provide fuller context to the third party quotes relied upon in the Article 6(1)(c) Decision, granted further access via CD-ROM to the full text replies to a set of questions in the request for information sent to customers and competitors. |
| --- | --- |

5.

After notification of the Article 6(1)(c) Decision, the Parties requested access to certain documents claiming that they amounted to ‘key documents’ within the meaning of paragraph 45 of Merger Best Practice Guidelines (‘Best Practices’) (2). DG Competition gave access to a set of key documents relied upon in the 6(1)(c) Decision. The Parties however requested to have full access to the entire set of responses of customers and competitors to the questionnaires sent by the Commission during the phase I market investigation claiming that they amounted to ‘key documents’. DG Competition considered the request to exceed the definition of ‘key documents’ but, in order to provide fuller context to the third party quotes relied upon in the Article 6(1)(c) Decision, granted further access via CD-ROM to the full text replies to a set of questions in the request for information sent to customers and competitors.

| 6. | The Parties made a further request for access to full replies to other questions which the Commission refused with the exception of replies to one specific question. In addition, the Parties also requested access to any key document submitted by a competitor, following its admission as interested third person. In response the Commission informed the Parties that no key documents were received from this interested third party. |
| --- | --- |

6.

The Parties made a further request for access to full replies to other questions which the Commission refused with the exception of replies to one specific question. In addition, the Parties also requested access to any key document submitted by a competitor, following its admission as interested third person. In response the Commission informed the Parties that no key documents were received from this interested third party.

| 7. | The above-mentioned disclosures of documents do not relate strictu sensu to access to the file. It is worth recalling that the right to have full access to the Commission’s file only arises if and when the Commission adopts a SO (3); parties do not have a right of access to the file in the earlier stages of the proceedings, for instance during merger investigations. I consider that in this case DG Competition met the requirements of procedural fairness and transparency — as prescribed by the Best Practices — by providing the Parties documents it was not required to disclose under access to the file rules. As such, DG Competition respected the effective exercise of the Parties’ procedural rights. |
| --- | --- |

7.

The above-mentioned disclosures of documents do not relate strictu sensu to access to the file. It is worth recalling that the right to have full access to the Commission’s file only arises if and when the Commission adopts a SO (3); parties do not have a right of access to the file in the earlier stages of the proceedings, for instance during merger investigations. I consider that in this case DG Competition met the requirements of procedural fairness and transparency — as prescribed by the Best Practices — by providing the Parties documents it was not required to disclose under access to the file rules. As such, DG Competition respected the effective exercise of the Parties’ procedural rights.

| 8. | After the notification of the SO, the Parties received access to the file via CD-ROM on 13 June 2015. |
| --- | --- |

8.

After the notification of the SO, the Parties received access to the file via CD-ROM on 13 June 2015.

Letter of facts

| 9. | On 9 July 2015, the Commission sent a letter of facts to the Parties informing them about additional evidence identified after the adoption of the SO that supported the preliminary conclusions reached in the SO and that could be relied upon in the final decision. The Parties submitted written comments on 16 July 2015. |
| --- | --- |

9.

On 9 July 2015, the Commission sent a letter of facts to the Parties informing them about additional evidence identified after the adoption of the SO that supported the preliminary conclusions reached in the SO and that could be relied upon in the final decision. The Parties submitted written comments on 16 July 2015.

Interested third persons

| 10. | Upon their request, received before the formal oral hearing took place, I allowed seven undertakings to be heard as interested third persons in the proceedings: four competitors to the parties, namely Mitsubishi Hitachi Power Systems, Ltd, Toshiba Corporation, Ansaldo Energia SpA and Ethos Energy, and three customers, namely Iberdrola Generación España S.A., MPF Operations Limited and PKN Orlen S.A. Upon their requests, I also allowed six of these interested third persons to participate in the formal oral hearing. Following the oral hearing, upon its request, I allowed another competitor to the Parties, Siemens A.G., to be heard as interested third person in the proceedings. |
| --- | --- |

10.

Upon their request, received before the formal oral hearing took place, I allowed seven undertakings to be heard as interested third persons in the proceedings: four competitors to the parties, namely Mitsubishi Hitachi Power Systems, Ltd, Toshiba Corporation, Ansaldo Energia SpA and Ethos Energy, and three customers, namely Iberdrola Generación España S.A., MPF Operations Limited and PKN Orlen S.A. Upon their requests, I also allowed six of these interested third persons to participate in the formal oral hearing. Following the oral hearing, upon its request, I allowed another competitor to the Parties, Siemens A.G., to be heard as interested third person in the proceedings.

Oral Hearing

| 11. | The formal oral hearing took place on 2 July 2015 and it was attended by the Parties; the interested third persons; the Commission services; representatives from the competition authorities of five Member States (Belgium, Germany, Finland, France and United Kingdom); and a representative from the EFTA Surveillance Authority. The Parties requested and were granted a closed session for parts of their respective presentations. |
| --- | --- |

11.

The formal oral hearing took place on 2 July 2015 and it was attended by the Parties; the interested third persons; the Commission services; representatives from the competition authorities of five Member States (Belgium, Germany, Finland, France and United Kingdom); and a representative from the EFTA Surveillance Authority. The Parties requested and were granted a closed session for parts of their respective presentations.

Commitments

| 12. | In order to address the competition concerns raised by the Commission in the SO, the Parties submitted commitments on 16 July 2015, which were subsequently revised on 21 July 2015 and on 24 July 2015. The Commission launched a market test of those commitments on 24 July 2015. The Parties were informed about the outcome of the market test on 4 August 2015 and, following further discussions with DG Competition, they submitted final signed commitments on 6 August 2015 (the ‘Final Commitments’). |
| --- | --- |

12.

In order to address the competition concerns raised by the Commission in the SO, the Parties submitted commitments on 16 July 2015, which were subsequently revised on 21 July 2015 and on 24 July 2015. The Commission launched a market test of those commitments on 24 July 2015. The Parties were informed about the outcome of the market test on 4 August 2015 and, following further discussions with DG Competition, they submitted final signed commitments on 6 August 2015 (the ‘Final Commitments’).

| 13. | The Commission takes the view that the Final Commitments remove the competition concerns identified. The draft decision therefore declares the Proposed Transaction compatible with the internal market and the EEA Agreement, subject to compliance with the commitments set out as conditions and obligations attached to the draft decision. |
| --- | --- |

13.

The Commission takes the view that the Final Commitments remove the competition concerns identified. The draft decision therefore declares the Proposed Transaction compatible with the internal market and the EEA Agreement, subject to compliance with the commitments set out as conditions and obligations attached to the draft decision.

Conclusion

| 14. | Pursuant to Article 16 of Decision 2011/695/EU, I have examined whether the draft decision deals only with objections in respect of which the Parties have been afforded the opportunity of making known their views and I have come to a positive conclusion. |
| --- | --- |

14.

Pursuant to Article 16 of Decision 2011/695/EU, I have examined whether the draft decision deals only with objections in respect of which the Parties have been afforded the opportunity of making known their views and I have come to a positive conclusion.

| 15. | Overall, I conclude that all parties have been able to effectively exercise their procedural rights in this case. |
| --- | --- |

15.

Overall, I conclude that all parties have been able to effectively exercise their procedural rights in this case.

Brussels, 1 September 2015.

Joos STRAGIER

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(1)  Pursuant to Articles 16 and 17 of Decision 2011/695/EU of the President of the European Commission of 13 October 2011 on the function and terms of reference of the hearing officer in certain competition proceedings (OJ L 275, 20.10.2011, p. 29).

1

(2)  DG Competition Best Practices on the conduct of EC merger control proceedings 20/01/2004.

2

(3)  Article 17(1) of Commission Regulation (EC) No 802/2004 of 7 April 2004 implementing Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (OJ L 133, 30.4.2004, p. 1) (the ‘Merger Implementing Regulation’).

3

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| 4.5.2017 | EN | Official Journal of the European Union | C 139/6 |
| --- | --- | --- | --- |

4.5.2017

EN

Official Journal of the European Union

C 139/6

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Summary of Commission Decision

of 8 September 2015

declaring a concentration compatible with the internal market and the functioning of the EEA Agreement

(Case M.7278 — General Electric/Alstom (Thermal Power — Renewable Power & Grid Business))

(notified under document number C(2015) 6179 final)

(only the English version is authentic)

(Text with EEA relevance)

(2017/C 139/04)

On 8 September 2015 the Commission adopted a Decision in a merger case under Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings
   (1), and in particular Article 8(2) of that Regulation. A non-confidential version of the full Decision can be found in the authentic language of the case on the website of the Directorate-General for Competition, at the following address: http://ec.europa.eu/comm/competition/index_en.html

I.   THE PARTIES

| (1) | General Electric Company (‘GE’, US) is a global, diversified manufacturing, technology and services company. Three of GE's divisions are directly related to the activities of ALSTOM (Société Anonyme) (‘Alstom’, France):






  (a) | GE Power & Water serves power generation, industrial, and other customers with energy production products and services, including gas/steam turbines, generators and wind turbines; |
| --- | --- | --- |

(1)

General Electric Company (‘GE’, US) is a global, diversified manufacturing, technology and services company. Three of GE's divisions are directly related to the activities of ALSTOM (Société Anonyme) (‘Alstom’, France):

(a)

GE Power & Water serves power generation, industrial, and other customers with energy production products and services, including gas/steam turbines, generators and wind turbines;

| (b) | GE Energy Management designs, manufactures and services a variety of electrical products and systems; |
| --- | --- |

(b)

GE Energy Management designs, manufactures and services a variety of electrical products and systems;

| (c) | GE Transportation supplies locomotives and rolling stock, as well as rail signalling and train control solutions. |
| --- | --- |

(c)

GE Transportation supplies locomotives and rolling stock, as well as rail signalling and train control solutions.

| (2) | Alstom is a global industrial and engineering company, organised in four business divisions:






  (a) | Thermal Power offers power generation solutions, various types of gas and steam turbines, generators, boilers, emission control systems, as well as related services; |
| --- | --- | --- |

(2)

Alstom is a global industrial and engineering company, organised in four business divisions:

(a)

Thermal Power offers power generation solutions, various types of gas and steam turbines, generators, boilers, emission control systems, as well as related services;

| (b) | Renewable Power offers turnkey solutions as well as turbines and generators for hydro, wind, geothermal and solar thermal power; |
| --- | --- |

(b)

Renewable Power offers turnkey solutions as well as turbines and generators for hydro, wind, geothermal and solar thermal power;

| (c) | Grid offers power transmission and distribution equipment and services, such as transformers and circuit breakers; |
| --- | --- |

(c)

Grid offers power transmission and distribution equipment and services, such as transformers and circuit breakers;

| (d) | Transport offers a wide range of rolling stock, rail signalling and transport systems, as well as related services. |
| --- | --- |

(d)

Transport offers a wide range of rolling stock, rail signalling and transport systems, as well as related services.

II.   THE OPERATION

| (3) | On 19 January 2015 the Commission received a notification of a proposed concentration pursuant to Article 4 of Regulation (EC) No 139/2004 (‘the Merger Regulation’) by which the undertaking GE acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the Thermal Power, Renewable Power and Grid businesses of Alstom, by way of purchase of shares. GE is hereinafter referred to as the ‘Notifying Party’ and GE and Alstom are collectively referred to as the ‘Parties’. |
| --- | --- |

(3)

On 19 January 2015 the Commission received a notification of a proposed concentration pursuant to Article 4 of Regulation (EC) No 139/2004 (‘the Merger Regulation’) by which the undertaking GE acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the Thermal Power, Renewable Power and Grid businesses of Alstom, by way of purchase of shares. GE is hereinafter referred to as the ‘Notifying Party’ and GE and Alstom are collectively referred to as the ‘Parties’.

III.   PROCEDURE

| (4) | The transaction was notified to the Commission on 19 January 2015. |
| --- | --- |

(4)

The transaction was notified to the Commission on 19 January 2015.

| (5) | By decision dated 23 February 2015, the Commission found that the transaction raised serious doubts as to its compatibility with the internal market and initiated proceedings pursuant to Article 6(1)(c) of the Merger Regulation. |
| --- | --- |

(5)

By decision dated 23 February 2015, the Commission found that the transaction raised serious doubts as to its compatibility with the internal market and initiated proceedings pursuant to Article 6(1)(c) of the Merger Regulation.

| (6) | The in-depth investigation confirmed the competition concerns preliminarily identified. |
| --- | --- |

(6)

The in-depth investigation confirmed the competition concerns preliminarily identified.

| (7) | The Notifying Party submitted the final commitments on 6 August 2015 (‘Final Commitments’) that render the transaction compatible with the internal market. |
| --- | --- |

(7)

The Notifying Party submitted the final commitments on 6 August 2015 (‘Final Commitments’) that render the transaction compatible with the internal market.

IV.   EXPLANATORY MEMORANDUM

A.   THE PARTIES ACTIVITIES

| (8) | As regards GE's activities relevant for the assessment of the transaction, through its GE Power & Water unit GE manufactures, supplies and services, among others: gas turbines (GTs), steam turbines (STs) and generators. Through its GE Energy Management unit GE provides products and technology that transmit, distribute and convert electricity and that modernise the grid. A part of GE Energy Management unit, namely Digital Energy unit offers products that protect, monitor, control and automate the grid, and visualisation software that helps optimise the grid. |
| --- | --- |

(8)

As regards GE's activities relevant for the assessment of the transaction, through its GE Power & Water unit GE manufactures, supplies and services, among others: gas turbines (GTs), steam turbines (STs) and generators. Through its GE Energy Management unit GE provides products and technology that transmit, distribute and convert electricity and that modernise the grid. A part of GE Energy Management unit, namely Digital Energy unit offers products that protect, monitor, control and automate the grid, and visualisation software that helps optimise the grid.

| (9) | Alstom's activities relevant for the purpose of assessment of this transaction are as follows: (i) manufacturing and supply of products and services for thermal power generation plants, such as GTs, STs, generators, heat recovery steam generator (‘HRSG’), as well as Engineering, Procurement and Construction (‘EPC’) solutions and service and maintenance; (ii) supply of automation and control solutions for power plants and for individual equipment, (iii) products and services that transmit electricity as well as grid management. |
| --- | --- |

(9)

Alstom's activities relevant for the purpose of assessment of this transaction are as follows: (i) manufacturing and supply of products and services for thermal power generation plants, such as GTs, STs, generators, heat recovery steam generator (‘HRSG’), as well as Engineering, Procurement and Construction (‘EPC’) solutions and service and maintenance; (ii) supply of automation and control solutions for power plants and for individual equipment, (iii) products and services that transmit electricity as well as grid management.

B.   THE RELEVANT MARKETS

Product market definition

50 Hz Heavy Duty Gas Turbines (HDGTs)

| (10) | The Commission investigation found that HDGTs and industrial gas turbines (‘IGTs’) constitute separate markets. In terms of power output the HDGT market comprises GTs with an output above 90 MW. |
| --- | --- |

(10)

The Commission investigation found that HDGTs and industrial gas turbines (‘IGTs’) constitute separate markets. In terms of power output the HDGT market comprises GTs with an output above 90 MW.

| (11) | The Commission considered that demand for services for HDGT arises as a result of the purchase of the respective HDGT. The associated services therefore constitute an aftermarket. In view of the advantages related to the simultaneous purchase of the initial services with the new unit and the purchasing patterns observed, the Commission concluded that the market for the supply of new-built HDGTs encompasses as well the supply of the associated initial services. The Commission also considered that the market for the supply of new-built HDGTs encompasses also the supply of the gas turbine control systems. |
| --- | --- |

(11)

The Commission considered that demand for services for HDGT arises as a result of the purchase of the respective HDGT. The associated services therefore constitute an aftermarket. In view of the advantages related to the simultaneous purchase of the initial services with the new unit and the purchasing patterns observed, the Commission concluded that the market for the supply of new-built HDGTs encompasses as well the supply of the associated initial services. The Commission also considered that the market for the supply of new-built HDGTs encompasses also the supply of the gas turbine control systems.

| (12) | The Commission found that the markets for 50 Hz HDGTs and for 60 Hz HDGTs constitute separate markets. Since the EEA is a 50 Hz frequency area, the impact of the transaction was assessed only in relation to the 50 Hz HDGT market. |
| --- | --- |

(12)

The Commission found that the markets for 50 Hz HDGTs and for 60 Hz HDGTs constitute separate markets. Since the EEA is a 50 Hz frequency area, the impact of the transaction was assessed only in relation to the 50 Hz HDGT market.

| (13) | Regarding the segmentation of the overall 50 Hz HDGT market (from 90 MW to currently around 470 MW) by power output classes, the Commission considered that, on the one hand, HDGTs at different ends of the output spectrum do not compete directly against each other. On the other hand, in the overall 50 Hz HDGT market there are no self-evident clear boundaries of separate segments which would clearly suggest separate markets. The Commission concluded that the relevant market is the overall market for 50 Hz HDGTs covering the whole output range. The Commission considered however also, that the competitive assessment should also include the analysis of the power output segments of the relevant market where Alstom exercises a competitive constraint. The Commission therefore assessed the impact of the transaction both at the level of the overall market for 50 Hz HDGTs and at the level of its possible segments as used by Alstom in the ordinary course of business (Medium, Large and Very Large). |
| --- | --- |

(13)

Regarding the segmentation of the overall 50 Hz HDGT market (from 90 MW to currently around 470 MW) by power output classes, the Commission considered that, on the one hand, HDGTs at different ends of the output spectrum do not compete directly against each other. On the other hand, in the overall 50 Hz HDGT market there are no self-evident clear boundaries of separate segments which would clearly suggest separate markets. The Commission concluded that the relevant market is the overall market for 50 Hz HDGTs covering the whole output range. The Commission considered however also, that the competitive assessment should also include the analysis of the power output segments of the relevant market where Alstom exercises a competitive constraint. The Commission therefore assessed the impact of the transaction both at the level of the overall market for 50 Hz HDGTs and at the level of its possible segments as used by Alstom in the ordinary course of business (Medium, Large and Very Large).

| (14) | The Commission also examined the relevance of a segmentation of the HDGT space by type of power plant configuration, namely HDGTs for combined cycle (‘CC’) and simple cycle (‘SC’) power plants. |
| --- | --- |

(14)

The Commission also examined the relevance of a segmentation of the HDGT space by type of power plant configuration, namely HDGTs for combined cycle (‘CC’) and simple cycle (‘SC’) power plants.

| (15) | In conclusion, for the purpose of assessing the transaction, the Commission considered that the relevant product market is the overall market for 50 Hz HDGTs with an output above 90 MW including the associated initial servicing and the gas turbine control system. The Commission conducted its competitive assessment both at the overall market of 50 Hz HDGTs and at segment levels, on the basis of the different power output classes (Medium, Large and Very Large) and on the basis of plant configuration (CC or SC) when relevant. |
| --- | --- |

(15)

In conclusion, for the purpose of assessing the transaction, the Commission considered that the relevant product market is the overall market for 50 Hz HDGTs with an output above 90 MW including the associated initial servicing and the gas turbine control system. The Commission conducted its competitive assessment both at the overall market of 50 Hz HDGTs and at segment levels, on the basis of the different power output classes (Medium, Large and Very Large) and on the basis of plant configuration (CC or SC) when relevant.

Generators

| (16) | The Commission considered that there are two relevant product markets for generators. |
| --- | --- |

(16)

The Commission considered that there are two relevant product markets for generators.

| (17) | On the one hand, the Commission delineated an overall and highly differentiated market of generators (air-cooled and hydrogen-cooled) above 35 MW. |
| --- | --- |

(17)

On the one hand, the Commission delineated an overall and highly differentiated market of generators (air-cooled and hydrogen-cooled) above 35 MW.

| (18) | On the other hand, the Commission has defined a narrower market specific to generators above 35 MW bundled with a 50 Hz HDGT. |
| --- | --- |

(18)

On the other hand, the Commission has defined a narrower market specific to generators above 35 MW bundled with a 50 Hz HDGT.

Steam turbines

| (19) | The Commission found that there is one relevant highly differentiated product market for large steam turbines (‘LSTs’) which could be further segmented. The Commission found evidence to exclude from this market LSTs for nuclear application, but did not find enough evidence to further delineate the LSTs market by gas and fossil-fuel power plants. The Commission further found evidence to distinguish between 50 Hz and 60 Hz LSTs. |
| --- | --- |

(19)

The Commission found that there is one relevant highly differentiated product market for large steam turbines (‘LSTs’) which could be further segmented. The Commission found evidence to exclude from this market LSTs for nuclear application, but did not find enough evidence to further delineate the LSTs market by gas and fossil-fuel power plants. The Commission further found evidence to distinguish between 50 Hz and 60 Hz LSTs.

| (20) | The Commission further delineated a specific narrower market for LSTs bundled with 50 Hz HDGTs. |
| --- | --- |

(20)

The Commission further delineated a specific narrower market for LSTs bundled with 50 Hz HDGTs.

HRSG

| (21) | The Commission left open any possible segmentation on the market for HRSG given the absence of horizontal overlaps between the Parties. |
| --- | --- |

(21)

The Commission left open any possible segmentation on the market for HRSG given the absence of horizontal overlaps between the Parties.

Plant control system

| (22) | The market investigation suggests that the market for control systems should be segmented according to whether the control system automates the operation of a specific component or the entire power plant. Thus, while the Commission defined a market for plant control system, the gas turbine control system was included in the market for 50 Hz HDGTs given that it is always sold with the GT. |
| --- | --- |

(22)

The market investigation suggests that the market for control systems should be segmented according to whether the control system automates the operation of a specific component or the entire power plant. Thus, while the Commission defined a market for plant control system, the gas turbine control system was included in the market for 50 Hz HDGTs given that it is always sold with the GT.

Servicing of mature GE's 50 Hz HDGTs frames

| (23) | The market investigation suggests that the market for the servicing of GTs should be segmented according to mature and non-mature HDGTs. Moreover, within the scope of services a distinction should be made between the three core services (i.e. (i) field services/on-site interventions, (ii) parts repairs/reconditioning, and (iii) the supply of spare parts and upgrades). Finally, the servicing of each frame of HDGT is a separate market. |
| --- | --- |

(23)

The market investigation suggests that the market for the servicing of GTs should be segmented according to mature and non-mature HDGTs. Moreover, within the scope of services a distinction should be made between the three core services (i.e. (i) field services/on-site interventions, (ii) parts repairs/reconditioning, and (iii) the supply of spare parts and upgrades). Finally, the servicing of each frame of HDGT is a separate market.

| (24) | Since GE only provides services for its own HDGTs, the overlaps regarding servicing of mature HDGTs are confined to the markets for the servicing of GE's mature HDGTs, where Alstom's subsidiary, PSM, is active. |
| --- | --- |

(24)

Since GE only provides services for its own HDGTs, the overlaps regarding servicing of mature HDGTs are confined to the markets for the servicing of GE's mature HDGTs, where Alstom's subsidiary, PSM, is active.

Servicing of generators

| (25) | Generator services range from simple inspection and testing to more advanced services like rewinds and upgrades. However, the issue whether the overall market for servicing of generators should be segmented further is left open. |
| --- | --- |

(25)

Generator services range from simple inspection and testing to more advanced services like rewinds and upgrades. However, the issue whether the overall market for servicing of generators should be segmented further is left open.

Servicing of steam turbines

| (26) | The overall market for servicing of STs could be segmented according to (i) the type of ST service, (ii) ST output, (iii) OEM technology or (iv) frequency. However, the issue whether the overall market for servicing of ST should be segmented further is left open. |
| --- | --- |

(26)

The overall market for servicing of STs could be segmented according to (i) the type of ST service, (ii) ST output, (iii) OEM technology or (iv) frequency. However, the issue whether the overall market for servicing of ST should be segmented further is left open.

Grid products

| (27) | The exact scope of the product market for the transmission and distribution products is left open. |
| --- | --- |

(27)

The exact scope of the product market for the transmission and distribution products is left open.

Geographic market definitions

| (28) | The market for 50 Hz HDGTs appears to be characterized by low relative transport costs and in principle global patterns in supply and sourcing, with the exception of China (local partnership requirements) and Iran (sanctions) which are characterized by specific market access barriers and accordingly markedly different conditions of competition on the supply side. At the same time, the strong demand differentiation driven by different gas prices both in absolute terms and relative to other energy sources implies that competitive conditions across different regions are not homogeneous. For instance, demand in the EEA region is highly differentiated from other world regions and, thus, observes also different competitive dynamics. At the very least, the investigation points to strong regional differentiations. |
| --- | --- |

(28)

The market for 50 Hz HDGTs appears to be characterized by low relative transport costs and in principle global patterns in supply and sourcing, with the exception of China (local partnership requirements) and Iran (sanctions) which are characterized by specific market access barriers and accordingly markedly different conditions of competition on the supply side. At the same time, the strong demand differentiation driven by different gas prices both in absolute terms and relative to other energy sources implies that competitive conditions across different regions are not homogeneous. For instance, demand in the EEA region is highly differentiated from other world regions and, thus, observes also different competitive dynamics. At the very least, the investigation points to strong regional differentiations.

| (29) | For the purpose of assessing the present transaction, the issue whether the relevant geographic market should be considered (1) as worldwide excluding China and Iran or (2) EEA-wide in scope can be left open. |
| --- | --- |

(29)

For the purpose of assessing the present transaction, the issue whether the relevant geographic market should be considered (1) as worldwide excluding China and Iran or (2) EEA-wide in scope can be left open.

| (30) | The Commission also concludes that the relevant geographic markets of generators and STs bundled with 50 Hz HDGTs, given that they are driven by the HDGTs supply, should be the same as the market for 50 Hz HDGTs. In the particular case of STs from the worldwide market besides China and Iran, also India and Japan should be excluded since these are not accessible countries for GE's bundle of HDGT and LST. |
| --- | --- |

(30)

The Commission also concludes that the relevant geographic markets of generators and STs bundled with 50 Hz HDGTs, given that they are driven by the HDGTs supply, should be the same as the market for 50 Hz HDGTs. In the particular case of STs from the worldwide market besides China and Iran, also India and Japan should be excluded since these are not accessible countries for GE's bundle of HDGT and LST.

| (31) | As regards servicing of GE's mature HDGTs, the issue whether the relevant geographic market should be considered as worldwide (excluding China) or EEA-wide in scope can be left open. |
| --- | --- |

(31)

As regards servicing of GE's mature HDGTs, the issue whether the relevant geographic market should be considered as worldwide (excluding China) or EEA-wide in scope can be left open.

| (32) | For the remaining relevant product markets the issue whether the relevant geographic market should be considered as worldwide or EEA-wide in scope can be left open. |
| --- | --- |

(32)

For the remaining relevant product markets the issue whether the relevant geographic market should be considered as worldwide or EEA-wide in scope can be left open.

C.   COMPETITIVE ASSESSMENT

| (33) | The Commission has reached the conclusion that the transaction would lead to a significant impediment of effective competition in:






  (a) | the market for 50 Hz HDGTs at a EEA level or worldwide level (excluding China and Iran), in particular in the Large and Very Large segment; |
| --- | --- | --- |

(33)

The Commission has reached the conclusion that the transaction would lead to a significant impediment of effective competition in:

(a)

the market for 50 Hz HDGTs at a EEA level or worldwide level (excluding China and Iran), in particular in the Large and Very Large segment;

| (b) | the market for generators bundled with 50 Hz HDGTs at a EEA level or worldwide level (excluding China and Iran); |
| --- | --- |

(b)

the market for generators bundled with 50 Hz HDGTs at a EEA level or worldwide level (excluding China and Iran);

| (c) | the market for LSTs bundled with 50 Hz HDGTs at a EEA level or worldwide level (excluding China, Iran, India and Japan); and |
| --- | --- |

(c)

the market for LSTs bundled with 50 Hz HDGTs at a EEA level or worldwide level (excluding China, Iran, India and Japan); and

| (d) | the market for servicing GE's 9FA HDGTs at a EEA level or worldwide level (excluding China). |
| --- | --- |

(d)

the market for servicing GE's 9FA HDGTs at a EEA level or worldwide level (excluding China).

| (34) | For the market for 50 Hz HDGTs at a EEA level or worldwide level (excluding China and Iran), the Commission's investigation has shown that this is an oligopolistic market, with only four full technology players active (i.e. Alstom, GE, MHPS and Siemens; Ansaldo is less advanced from a technology point of view and focuses on niche product and geographic markets) and with very high barriers to entry. |
| --- | --- |

(34)

For the market for 50 Hz HDGTs at a EEA level or worldwide level (excluding China and Iran), the Commission's investigation has shown that this is an oligopolistic market, with only four full technology players active (i.e. Alstom, GE, MHPS and Siemens; Ansaldo is less advanced from a technology point of view and focuses on niche product and geographic markets) and with very high barriers to entry.

| (35) | The transaction would lead to market-leading and often very large market shares in the market for 50 Hz HDGTs. The Commission's investigation has shown that pre-merger GE is already the market leader in the worldwide (excluding China and Iran) market for 50 Hz HDGTs, with market shares above 40 %. In the EEA, GE and Siemens have similar positions with Alstom being a close third player. |
| --- | --- |

(35)

The transaction would lead to market-leading and often very large market shares in the market for 50 Hz HDGTs. The Commission's investigation has shown that pre-merger GE is already the market leader in the worldwide (excluding China and Iran) market for 50 Hz HDGTs, with market shares above 40 %. In the EEA, GE and Siemens have similar positions with Alstom being a close third player.

| (36) | The transaction would add a significant market share from Alstom: around [20-30] percentage points in the EEA and around [10-20] percentage points at the worldwide level. Post-transaction GE would thus have very large shares (above 50 %) both in the EEA and at a worldwide level, with a large difference to the second player, Siemens. MHPS and Ansaldo are much smaller players both at the EEA and worldwide level. |
| --- | --- |

(36)

The transaction would add a significant market share from Alstom: around [20-30] percentage points in the EEA and around [10-20] percentage points at the worldwide level. Post-transaction GE would thus have very large shares (above 50 %) both in the EEA and at a worldwide level, with a large difference to the second player, Siemens. MHPS and Ansaldo are much smaller players both at the EEA and worldwide level.

| (37) | The transaction would also eliminate a significant and close competitor of GE in the overall market for 50 Hz HDGTs and in particular in the Large and Very Large segments. |
| --- | --- |

(37)

The transaction would also eliminate a significant and close competitor of GE in the overall market for 50 Hz HDGTs and in particular in the Large and Very Large segments.

| (38) | GE and Siemens are market leaders in the overall market for 50Hz HDGTs, competing globally and offering a wide range of products delivering strong performance across most technical criteria. Alstom, in particular, (i) is competing on par with GE and Siemens in the EEA; (ii) is also a global player and is a significant challenger to GE and Siemens also in the market for 50 Hz HDGTs outside the EEA; (iii) offers best in class flexibility and pollutant emissions performances, only matched to a certain extent by GE and Siemens, and well suited to meet the requirements of European customers; (iv) benefits from a large installed base of HDGTs worldwide, smaller than that of GE and Siemens, but well ahead of that of MHPS and Ansaldo. |
| --- | --- |

(38)

GE and Siemens are market leaders in the overall market for 50Hz HDGTs, competing globally and offering a wide range of products delivering strong performance across most technical criteria. Alstom, in particular, (i) is competing on par with GE and Siemens in the EEA; (ii) is also a global player and is a significant challenger to GE and Siemens also in the market for 50 Hz HDGTs outside the EEA; (iii) offers best in class flexibility and pollutant emissions performances, only matched to a certain extent by GE and Siemens, and well suited to meet the requirements of European customers; (iv) benefits from a large installed base of HDGTs worldwide, smaller than that of GE and Siemens, but well ahead of that of MHPS and Ansaldo.

| (39) | Alstom and GE are close competitors, inter alia, because both (i) have a large portfolio of HDGTs addressing the same segments; (ii) have a worldwide market presence covering the same regions; (iii) offer in 50 Hz regions HDGTs which are typically regarded as comparably reliable by customers and based on proven technology; (iv) are largely targeting the same profile of customers. In addition, as regards operational flexibility performances, GE developed machines which have become relatively close to Alstom's in terms of part-load efficiency and emissions, in particular in the Large and Very Large segments of the market for 50 Hz HDGTs. [CONFIDENTIAL]. |
| --- | --- |

(39)

Alstom and GE are close competitors, inter alia, because both (i) have a large portfolio of HDGTs addressing the same segments; (ii) have a worldwide market presence covering the same regions; (iii) offer in 50 Hz regions HDGTs which are typically regarded as comparably reliable by customers and based on proven technology; (iv) are largely targeting the same profile of customers. In addition, as regards operational flexibility performances, GE developed machines which have become relatively close to Alstom's in terms of part-load efficiency and emissions, in particular in the Large and Very Large segments of the market for 50 Hz HDGTs. [CONFIDENTIAL].

| (40) | The analysis of bidding data for the Large segment indicates that GE and Alstom are close competitors for the following reasons: (i) after Siemens, Alstom is the firm that participates the most often against GE, both at the firm stage and at the shortlist stage of a tender; (ii) MHPS and Ansaldo have more limited competitive interactions with GE than Alstom, both at the firm stage and at the shortlist stage, (iii) GE and Alstom compete against one another in a significant share of competitive tenders ([CONFIDENTIAL]), (iv) tenders where the Parties compete against one another have a concentrated market structure, with a significant proportion of tenders with three participants or fewer, (v) Alstom appears as the second most important competitive constraint on GE's probability of winning a tender (after Siemens), whilst this is less the case for MHPS, and even less the case for Ansaldo, (vi) GE's margins are negatively correlated with Alstom's participations, (vii) GE participates in many tenders against Alstom, and GE's accounts for a significant share of Alstom's losses, suggesting that GE is also a competitive constraint to Alstom. This evidence therefore indicates the presence of significant horizontal unilateral effects from the transaction. |
| --- | --- |

(40)

The analysis of bidding data for the Large segment indicates that GE and Alstom are close competitors for the following reasons: (i) after Siemens, Alstom is the firm that participates the most often against GE, both at the firm stage and at the shortlist stage of a tender; (ii) MHPS and Ansaldo have more limited competitive interactions with GE than Alstom, both at the firm stage and at the shortlist stage, (iii) GE and Alstom compete against one another in a significant share of competitive tenders ([CONFIDENTIAL]), (iv) tenders where the Parties compete against one another have a concentrated market structure, with a significant proportion of tenders with three participants or fewer, (v) Alstom appears as the second most important competitive constraint on GE's probability of winning a tender (after Siemens), whilst this is less the case for MHPS, and even less the case for Ansaldo, (vi) GE's margins are negatively correlated with Alstom's participations, (vii) GE participates in many tenders against Alstom, and GE's accounts for a significant share of Alstom's losses, suggesting that GE is also a competitive constraint to Alstom. This evidence therefore indicates the presence of significant horizontal unilateral effects from the transaction.

| (41) | Last, bidding data on firm participations by OEMs indicates that MHPS and Ansaldo have also limited interactions with Alstom, suggesting that these two OEMs are not close competitors to Alstom. |
| --- | --- |

(41)

Last, bidding data on firm participations by OEMs indicates that MHPS and Ansaldo have also limited interactions with Alstom, suggesting that these two OEMs are not close competitors to Alstom.

| (42) | The transaction would also eliminate an important competitive force from an innovation and technology point of view in the market for 50 Hz HDGTs. The Commission's investigation showed that Alstom's HDGT portfolio offerings are often best in class in terms of operational flexibility, and that Alstom's HDGT portfolio offerings are highly regarded by customers looking for HDGTs characterized by high operational flexibility. Alstom has R & D and technological capabilities on par or almost on par with GE and Siemens. Alstom is a significant competitor in terms of R & D spend, R & D headcount, product pipeline, testing facilities and technological abilities. |
| --- | --- |

(42)

The transaction would also eliminate an important competitive force from an innovation and technology point of view in the market for 50 Hz HDGTs. The Commission's investigation showed that Alstom's HDGT portfolio offerings are often best in class in terms of operational flexibility, and that Alstom's HDGT portfolio offerings are highly regarded by customers looking for HDGTs characterized by high operational flexibility. Alstom has R & D and technological capabilities on par or almost on par with GE and Siemens. Alstom is a significant competitor in terms of R & D spend, R & D headcount, product pipeline, testing facilities and technological abilities.

| (43) | GE post-transaction would have likely eliminated most of Alstom's R & D capabilities related to HDGTs. As such, the ability of the merged entity to pursue the development of Alstom's HDGT technologies and to build on Alstom's past technology path would have disappeared. GE would have also discontinued the sale and development of Alstom's HDGTs in the Large and Very Large segments of the market for 50 Hz HDGTs. GE would post-merger likely have only limited incentives and ability to develop significant new upgrades for the Large HDGT, compared to the incentives and ability that Alstom would have in the absence of the merger. In particular, upgrades that would have been cross-financed by sales from new HDGTs are likely not to be developed. |
| --- | --- |

(43)

GE post-transaction would have likely eliminated most of Alstom's R & D capabilities related to HDGTs. As such, the ability of the merged entity to pursue the development of Alstom's HDGT technologies and to build on Alstom's past technology path would have disappeared. GE would have also discontinued the sale and development of Alstom's HDGTs in the Large and Very Large segments of the market for 50 Hz HDGTs. GE would post-merger likely have only limited incentives and ability to develop significant new upgrades for the Large HDGT, compared to the incentives and ability that Alstom would have in the absence of the merger. In particular, upgrades that would have been cross-financed by sales from new HDGTs are likely not to be developed.

| (44) | The transaction would therefore even further affect negatively prices and the choices available to customers in the Large and Very Large segments of the market for 50 Hz HDGTs. It would have also reduced the overall incentives to invest significantly in innovation, as compared to the standard effects of a merger. Finally, given the very high barriers to entry and the nature of innovation competition in this industry these significant negative effects on innovation would have been long term. |
| --- | --- |

(44)

The transaction would therefore even further affect negatively prices and the choices available to customers in the Large and Very Large segments of the market for 50 Hz HDGTs. It would have also reduced the overall incentives to invest significantly in innovation, as compared to the standard effects of a merger. Finally, given the very high barriers to entry and the nature of innovation competition in this industry these significant negative effects on innovation would have been long term.

| (45) | In the particular case of the Medium segment of the market for 50 Hz HDGTs, however, the Commission's investigation revealed that from a technological point of view, Alstom's Medium HDGT closest competitors are Siemens' and Ansaldo's Medium HDGTs. GE's Medium HDGT is more distant from a technological point of view. Even with the recent launch of a new Medium HDGT, GE has become closer to the Alstom's HDGT but only on SC efficiency, while it remains more distant in terms of the other parameters. Thus, the Commission considers that the transaction does not lead to a significant impediment to effective competition in the Medium segment, and in any case, the transaction will bring about efficiencies which are likely to largely outweigh the potential harm. |
| --- | --- |

(45)

In the particular case of the Medium segment of the market for 50 Hz HDGTs, however, the Commission's investigation revealed that from a technological point of view, Alstom's Medium HDGT closest competitors are Siemens' and Ansaldo's Medium HDGTs. GE's Medium HDGT is more distant from a technological point of view. Even with the recent launch of a new Medium HDGT, GE has become closer to the Alstom's HDGT but only on SC efficiency, while it remains more distant in terms of the other parameters. Thus, the Commission considers that the transaction does not lead to a significant impediment to effective competition in the Medium segment, and in any case, the transaction will bring about efficiencies which are likely to largely outweigh the potential harm.

| (46) | In line with its investigation, the Commission considered that the transaction would have had overall significant adverse effects on prices, product choice and innovation in the Large and Very Large segments of the market for 50 Hz HDGTs. |
| --- | --- |

(46)

In line with its investigation, the Commission considered that the transaction would have had overall significant adverse effects on prices, product choice and innovation in the Large and Very Large segments of the market for 50 Hz HDGTs.

| (47) | As for the markets for generators and steam turbines bundled with 50 Hz HDGTs, the Commission's investigation showed that many customers have a preference for sourcing these complements from HDGT suppliers for warranty, servicing, cost and performance optimization reasons. Therefore, for those customers, the effects in the market for 50 Hz HDGTs risk to extend to complements markets. |
| --- | --- |

(47)

As for the markets for generators and steam turbines bundled with 50 Hz HDGTs, the Commission's investigation showed that many customers have a preference for sourcing these complements from HDGT suppliers for warranty, servicing, cost and performance optimization reasons. Therefore, for those customers, the effects in the market for 50 Hz HDGTs risk to extend to complements markets.

| (48) | Finally, the transaction would further strengthen GE's dominant position for the servicing of GE's 9FA HDGTs by eliminating Alstom's PSM which is its strongest potential competitor. |
| --- | --- |

(48)

Finally, the transaction would further strengthen GE's dominant position for the servicing of GE's 9FA HDGTs by eliminating Alstom's PSM which is its strongest potential competitor.

| (49) | The Commission's investigation showed that the market of servicing GE's 9FA HDGTs is characterised by a dominant position of GE. Alstom's PSM is currently leveraging its customer relationships and its 60 Hz servicing know-how to enter the market for the servicing GE's 9FA HDGTs where it plans to achieve a significant position. While a few other ISPs are currently also trying to enter the market of servicing the 9FA HDGTs, these entries are based in a much more limited technology basis, in particular as regards spare parts and upgrades. In addition other significant new entries are unlikely in view of high technological barriers and significant investments required. Alstom's PSM is therefore most likely to be the main challenger of GE in the servicing of GE's 9FA HDGTs, both in terms of the three core services and upgrades. |
| --- | --- |

(49)

The Commission's investigation showed that the market of servicing GE's 9FA HDGTs is characterised by a dominant position of GE. Alstom's PSM is currently leveraging its customer relationships and its 60 Hz servicing know-how to enter the market for the servicing GE's 9FA HDGTs where it plans to achieve a significant position. While a few other ISPs are currently also trying to enter the market of servicing the 9FA HDGTs, these entries are based in a much more limited technology basis, in particular as regards spare parts and upgrades. In addition other significant new entries are unlikely in view of high technological barriers and significant investments required. Alstom's PSM is therefore most likely to be the main challenger of GE in the servicing of GE's 9FA HDGTs, both in terms of the three core services and upgrades.

| (50) | Moreover, the Commission has reached the conclusion that the transaction would not significantly impede effective competition in the internal market in: (i) the overall market of generators (air-cooled and hydrogen-cooled) above 35 MW; (ii) the overall market of 50 Hz LSTs (excluding those for nuclear application); (iii) the market for HRSG; (iv) the market for plant control system; (v) the markets for the servicing of GE's 9E frame and lower output HDGTs frames; (vi) the markets for servicing of generators; (vii) the markets for servicing of STs; and (viii) the markets for grid products. |
| --- | --- |

(50)

Moreover, the Commission has reached the conclusion that the transaction would not significantly impede effective competition in the internal market in: (i) the overall market of generators (air-cooled and hydrogen-cooled) above 35 MW; (ii) the overall market of 50 Hz LSTs (excluding those for nuclear application); (iii) the market for HRSG; (iv) the market for plant control system; (v) the markets for the servicing of GE's 9E frame and lower output HDGTs frames; (vi) the markets for servicing of generators; (vii) the markets for servicing of STs; and (viii) the markets for grid products.

D.   REMEDIES

| (51) | In order to render the transaction compatible with the internal market in relation to the market for 50 Hz HDGTs, in particular in the Large and Very Large segments, the market for generators bundled with 50 Hz HDGTs, the market for LSTs bundled with 50 Hz HDGTs and the market for servicing GE's 9FA HDGTs, the Notifying Party submitted the First set of Commitments on 16 July 2015. The Commission concluded that the First set of Commitments was insufficient to remove the significant impediment to effective competition, did not market test them and informed the Notifying Party accordingly. |
| --- | --- |

(51)

In order to render the transaction compatible with the internal market in relation to the market for 50 Hz HDGTs, in particular in the Large and Very Large segments, the market for generators bundled with 50 Hz HDGTs, the market for LSTs bundled with 50 Hz HDGTs and the market for servicing GE's 9FA HDGTs, the Notifying Party submitted the First set of Commitments on 16 July 2015. The Commission concluded that the First set of Commitments was insufficient to remove the significant impediment to effective competition, did not market test them and informed the Notifying Party accordingly.

| (52) | The Notifying Party submitted the Second set of Commitments on 21 July 2015. The Commission concluded that the Second set of Commitments of 21 July 2015 was insufficient to remove the significant impediment to effective competition, did not market test them and informed the Notifying Party accordingly. |
| --- | --- |

(52)

The Notifying Party submitted the Second set of Commitments on 21 July 2015. The Commission concluded that the Second set of Commitments of 21 July 2015 was insufficient to remove the significant impediment to effective competition, did not market test them and informed the Notifying Party accordingly.

| (53) | The Notifying Party submitted the Third set of Commitments on 24 July 2015. The Commission did market test the Third set of Commitments. |
| --- | --- |

(53)

The Notifying Party submitted the Third set of Commitments on 24 July 2015. The Commission did market test the Third set of Commitments.

| (54) | In order to address the issues raised in the market test, the Notifying Party submitted the Final Commitments on 6 August 2015. |
| --- | --- |

(54)

In order to address the issues raised in the market test, the Notifying Party submitted the Final Commitments on 6 August 2015.

| (55) | The Final Commitments submitted by the Notifying Party consists in the divestment to Ansaldo of the Alstom's Gas Business combined with the PSM Business, excluding (i) those areas of Alstom's Gas Business where no competition issues arise, and (ii) elements of Alstom's Gas Business and the PSM Business that are not needed by Ansaldo to replicate Alstom as a viable and competitive force in HDGTs, insofar as Ansaldo's resources and capabilities are taken into account (the ‘Divestment Business’). |
| --- | --- |

(55)

The Final Commitments submitted by the Notifying Party consists in the divestment to Ansaldo of the Alstom's Gas Business combined with the PSM Business, excluding (i) those areas of Alstom's Gas Business where no competition issues arise, and (ii) elements of Alstom's Gas Business and the PSM Business that are not needed by Ansaldo to replicate Alstom as a viable and competitive force in HDGTs, insofar as Ansaldo's resources and capabilities are taken into account (the ‘Divestment Business’).

| (56) | The Divestment Business includes intangible assets, tangible assets, contracts, agreements, leases, customer, credit and other records, Personnel, Key Personnel, and transitional arrangement to supply Ansaldo with some products or services by GE. In particular, it includes:






  (a) | Alstom's heavy duty gas turbine technology for the GT 26 and GT 36 turbines, existing upgrades and pipeline technology for future upgrades, excluding essentially only the technology for Alstom's older GT 13 model for which the Commission had no competition concerns; |
| --- | --- | --- |

(56)

The Divestment Business includes intangible assets, tangible assets, contracts, agreements, leases, customer, credit and other records, Personnel, Key Personnel, and transitional arrangement to supply Ansaldo with some products or services by GE. In particular, it includes:

(a)

Alstom's heavy duty gas turbine technology for the GT 26 and GT 36 turbines, existing upgrades and pipeline technology for future upgrades, excluding essentially only the technology for Alstom's older GT 13 model for which the Commission had no competition concerns;

| (b) | a large number of Alstom R & D engineers who will continue to develop the Alstom heavy duty gas turbine technology; |
| --- | --- |

(b)

a large number of Alstom R & D engineers who will continue to develop the Alstom heavy duty gas turbine technology;

| (c) | the two test facilities for the GT 26 and GT 36 turbine models in Birr, Switzerland; |
| --- | --- |

(c)

the two test facilities for the GT 26 and GT 36 turbine models in Birr, Switzerland;

| (d) | long term servicing agreements for 34 GT 26 turbines already sold in recent years by Alstom; and |
| --- | --- |

(d)

long term servicing agreements for 34 GT 26 turbines already sold in recent years by Alstom; and

| (e) | Alstom's PSM servicing business based in Florida, US. |
| --- | --- |

(e)

Alstom's PSM servicing business based in Florida, US.

| (57) | The objective of the Final Commitments is to create a business that is viable, standalone and competitive insofar as Ansaldo's resources and capabilities are taken into account, which will replicate Alstom as a viable and competitive force in HDGTs |
| --- | --- |

(57)

The objective of the Final Commitments is to create a business that is viable, standalone and competitive insofar as Ansaldo's resources and capabilities are taken into account, which will replicate Alstom as a viable and competitive force in HDGTs

| (58) | The commitments submitted by the Notifying Party have elements of both a fix-it-first remedy and an up-front buyer remedy. The commitments structure is a fix-it-first solution in so far as GE has already pre-selected the purchaser, Ansaldo. The current assets of Ansaldo can thus be taken into account in the Commission's assessment about the viability and competitiveness of Ansaldo in operating the assets divested. The commitments structure is also an upfront buyer solution since the implementation of the transaction can only take place after the final approval by the Commission of the purchaser and the purchase agreements. |
| --- | --- |

(58)

The commitments submitted by the Notifying Party have elements of both a fix-it-first remedy and an up-front buyer remedy. The commitments structure is a fix-it-first solution in so far as GE has already pre-selected the purchaser, Ansaldo. The current assets of Ansaldo can thus be taken into account in the Commission's assessment about the viability and competitiveness of Ansaldo in operating the assets divested. The commitments structure is also an upfront buyer solution since the implementation of the transaction can only take place after the final approval by the Commission of the purchaser and the purchase agreements.

| (59) | The assets retained by GE (the ‘Retained Business’) consist of the (tangible and intangible) assets and personnel included in Alstom's Gas Business and the PSM Business that will not be included in the Divestment Business, because they (i) are related to areas of Alstom's Gas Business where no competition issues arise, and/or (ii) are not needed by Ansaldo to replicate Alstom as a viable and competitive force in HDGTs, insofar as Ansaldo's resources and capabilities are taken into account. |
| --- | --- |

(59)

The assets retained by GE (the ‘Retained Business’) consist of the (tangible and intangible) assets and personnel included in Alstom's Gas Business and the PSM Business that will not be included in the Divestment Business, because they (i) are related to areas of Alstom's Gas Business where no competition issues arise, and/or (ii) are not needed by Ansaldo to replicate Alstom as a viable and competitive force in HDGTs, insofar as Ansaldo's resources and capabilities are taken into account.

| (60) | The Commission considers that Ansaldo is, prima facie, a suitable buyer given its experience as a HDGT OEM. Ansaldo will, prima facie, have the incentive and ability to maintain and develop the Divestment Business as a viable and active force in competition with the merged entity, MHPS and Siemens, conditional on the final composition of the assets that it will acquire through the SPA. The Divestment Business broadly includes the resources (namely engineers, Alstom's technology and know-how, and testing facilities) necessary for Ansaldo to operate an advanced HDGT business and to continue on Alstom's innovation path. |
| --- | --- |

(60)

The Commission considers that Ansaldo is, prima facie, a suitable buyer given its experience as a HDGT OEM. Ansaldo will, prima facie, have the incentive and ability to maintain and develop the Divestment Business as a viable and active force in competition with the merged entity, MHPS and Siemens, conditional on the final composition of the assets that it will acquire through the SPA. The Divestment Business broadly includes the resources (namely engineers, Alstom's technology and know-how, and testing facilities) necessary for Ansaldo to operate an advanced HDGT business and to continue on Alstom's innovation path.

| (61) | The Commission considers that the Final Commitments would allow Ansaldo to replicate Alstom's competitive constraint in the market for 50 Hz HDGTs. In fact, the combination of the Divestment Business assets, including the GT26 2006, the GT26 2011, the GT36 and the relevant Alstom's development programmes (i.e. Alstom's Large and Very Large HDGT frames), with Ansaldo existing assets will allow Ansaldo to become a close and effective competitor of GE, Siemens, and MHPS in the market for 50 Hz HDGT, and in particular in the Large and Very Large segments, thereby replacing Alstom's competitive constraints. |
| --- | --- |

(61)

The Commission considers that the Final Commitments would allow Ansaldo to replicate Alstom's competitive constraint in the market for 50 Hz HDGTs. In fact, the combination of the Divestment Business assets, including the GT26 2006, the GT26 2011, the GT36 and the relevant Alstom's development programmes (i.e. Alstom's Large and Very Large HDGT frames), with Ansaldo existing assets will allow Ansaldo to become a close and effective competitor of GE, Siemens, and MHPS in the market for 50 Hz HDGT, and in particular in the Large and Very Large segments, thereby replacing Alstom's competitive constraints.

| (62) | GE will divest to Ansaldo all the assets, personnel and technology of Alstom necessary for Ansaldo to further strengthen its position as an OEM in advanced HDGTs. As Ansaldo will have the exclusive right (including vis-à-vis GE) to sell new units of Alstom's Large and Very Large HDGT, the transaction will not strengthen GE's position in the Large and Very Large segment of the market for 50 Hz HDGTs. Additionally, the Final Commitments ensure that Ansaldo will have access to the customers, capabilities and information it requires to carry out servicing and innovation on an ongoing basis. |
| --- | --- |

(62)

GE will divest to Ansaldo all the assets, personnel and technology of Alstom necessary for Ansaldo to further strengthen its position as an OEM in advanced HDGTs. As Ansaldo will have the exclusive right (including vis-à-vis GE) to sell new units of Alstom's Large and Very Large HDGT, the transaction will not strengthen GE's position in the Large and Very Large segment of the market for 50 Hz HDGTs. Additionally, the Final Commitments ensure that Ansaldo will have access to the customers, capabilities and information it requires to carry out servicing and innovation on an ongoing basis.

| (63) | The Divestment Business also includes the transfer to Ansaldo of the current servicing agreements for thirty GT26 2006 units located predominantly in the EEA and four GT26 2011 units. The transfer of such agreements, which constitutes around half of the installed base of GT26 2006 and 2011, addresses the concerns with respect to Ansaldo's position and viability as the standalone GT26 2006 and 2011 OEM. |
| --- | --- |

(63)

The Divestment Business also includes the transfer to Ansaldo of the current servicing agreements for thirty GT26 2006 units located predominantly in the EEA and four GT26 2011 units. The transfer of such agreements, which constitutes around half of the installed base of GT26 2006 and 2011, addresses the concerns with respect to Ansaldo's position and viability as the standalone GT26 2006 and 2011 OEM.

| (64) | The Commission also considers that the Final Commitments would allow Ansaldo to replicate Alstom as an important innovator. In fact, GE will transfer to Ansaldo R & D personnel with an appropriate mix of skills and experience from Alstom's team, all Alstom technology relating to advanced HDGTs including the GT26 2006, GT26 2011 and GT36 and rights in and access to testing facilities. The Final Commitments will therefore ensure that Ansaldo will have the ability and incentives to maintain Alstom's current level of innovation. |
| --- | --- |

(64)

The Commission also considers that the Final Commitments would allow Ansaldo to replicate Alstom as an important innovator. In fact, GE will transfer to Ansaldo R & D personnel with an appropriate mix of skills and experience from Alstom's team, all Alstom technology relating to advanced HDGTs including the GT26 2006, GT26 2011 and GT36 and rights in and access to testing facilities. The Final Commitments will therefore ensure that Ansaldo will have the ability and incentives to maintain Alstom's current level of innovation.

| (65) | Finally, the Commission considers that the Final Commitments would allow Ansaldo to (i) replicate PSM's competitive constraint in the market for servicing GE's 9FA HDGTs and (ii) Alstom's competitive constraint in the markets for selling and servicing LST bundled with 50 Hz HDGTs and generators bundled with 50 Hz HDGTs. |
| --- | --- |

(65)

Finally, the Commission considers that the Final Commitments would allow Ansaldo to (i) replicate PSM's competitive constraint in the market for servicing GE's 9FA HDGTs and (ii) Alstom's competitive constraint in the markets for selling and servicing LST bundled with 50 Hz HDGTs and generators bundled with 50 Hz HDGTs.

| (66) | In light of the above, the scope of the Divestment Business and the identity of the purchaser, and the specific assets and capabilities that Ansaldo already possesses, lead to the conclusion that the Final Commitments are likely to create a viable business capable of competing effectively on a lasting basis in the relevant markets. These commitments therefore are likely to ensure that the transaction will not result in any adverse effect on competition in any relevant markets. |
| --- | --- |

(66)

In light of the above, the scope of the Divestment Business and the identity of the purchaser, and the specific assets and capabilities that Ansaldo already possesses, lead to the conclusion that the Final Commitments are likely to create a viable business capable of competing effectively on a lasting basis in the relevant markets. These commitments therefore are likely to ensure that the transaction will not result in any adverse effect on competition in any relevant markets.

| (67) | The Commission thus concluded that the Final Commitments are adequate and sufficient to eliminate the significant impediment to effective competition in the market for (i) 50 Hz HDGTs, (ii) servicing of GE's 9FA frame, (iii) generators bundled with 50 HDGTs and (iv) LST bundled with 50 Hz HDGTs. |
| --- | --- |

(67)

The Commission thus concluded that the Final Commitments are adequate and sufficient to eliminate the significant impediment to effective competition in the market for (i) 50 Hz HDGTs, (ii) servicing of GE's 9FA frame, (iii) generators bundled with 50 HDGTs and (iv) LST bundled with 50 Hz HDGTs.

V.   CONCLUSION

| (68) | For the reasons mentioned above, the decision concludes that the proposed concentration as modified by the commitments submitted on 6 August 2015 will not significantly impede effective competition in the Internal Market or in a substantial part of it. |
| --- | --- |

(68)

For the reasons mentioned above, the decision concludes that the proposed concentration as modified by the commitments submitted on 6 August 2015 will not significantly impede effective competition in the Internal Market or in a substantial part of it.

| (69) | Consequently the concentration should be declared compatible with the Internal Market and the functioning of the EEA Agreement, in accordance with Article 2(2) and Article 8(2) of the Merger Regulation and Article 57 of the EEA Agreement. |
| --- | --- |

(69)

Consequently the concentration should be declared compatible with the Internal Market and the functioning of the EEA Agreement, in accordance with Article 2(2) and Article 8(2) of the Merger Regulation and Article 57 of the EEA Agreement.

---

(1)  OJ L 24, 29.1.2004, p. 1-22.

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NOTICES FROM MEMBER STATES

| 4.5.2017 | EN | Official Journal of the European Union | C 139/14 |
| --- | --- | --- | --- |

4.5.2017

EN

Official Journal of the European Union

C 139/14

---

Applicable Transport Arrangements in the euro-area Member States (Article 13(5)) and in Andorra, Monaco, San Marino and the Vatican

(Regulation (EU) No 1214/2011 of the European Parliament and of the Council on the cross-border transport of euro cash by road between euro-area Member States)

(2017/C 139/05)

For the transport of euro banknotes by road, countries must choose at least one of the options laid down in Article 14, 15, 16, 17 or 18 of the Regulation.

For the transport of euro coins by road, countries must choose at least one of the options laid down in Article 19 and 20 of the Regulation.

Countries must confirm that the transport arrangements opted for are comparable to the transport arrangements allowed for domestic cash-in-transit transport.

| Country | Applicable arrangements for transport of banknotes | Applicable arrangements for transport of coins | Confirmation on comparability with domestic CIT transport arrangements |
| --- | --- | --- | --- |
| AT | Art. 14-18 | Art. 19-20 | |
| BE | Art. 16 and Art. 18.
  Belgium has decided that the obligation set out in Article 13(4) of the Regulation is to be applied. | Art. 20 | The options set out in Articles 16, 18 and 20 of the Regulation are similar to the transport arrangements authorised for the transport of cash in Belgium.
  The obligation in Article 13(4) applies by virtue of the Belgian regulation concerning national transport. |
| DE | Art. 17 | Art. 19 | YES |
| EE | Art. 15 – 17 | Art. 20 | Partial compliance.
  National rules and special conditions based on the amount of valuable of transport. |
| ES | a) | As regards the transport of banknotes, in accordance with the provisions in the European Regulation on the obligation to opt for at least one of the methods in Articles 14 to 18, the method permitted in accordance with our own legislation is the one in Article 17 of the European Regulation. |

Country

Applicable arrangements for transport of banknotes

Applicable arrangements for transport of coins

Confirmation on comparability with domestic CIT transport arrangements

AT

Art. 14-18

Art. 19-20

BE

Art. 16 and Art. 18.

Belgium has decided that the obligation set out in Article 13(4) of the Regulation is to be applied.

Art. 20

The options set out in Articles 16, 18 and 20 of the Regulation are similar to the transport arrangements authorised for the transport of cash in Belgium.

The obligation in Article 13(4) applies by virtue of the Belgian regulation concerning national transport.

DE

Art. 17

Art. 19

YES

EE

Art. 15 – 17

Art. 20

Partial compliance.

National rules and special conditions based on the amount of valuable of transport.

ES

a)

As regards the transport of banknotes, in accordance with the provisions in the European Regulation on the obligation to opt for at least one of the methods in Articles 14 to 18, the method permitted in accordance with our own legislation is the one in Article 17 of the European Regulation.

| b) | As regards coins, the method to be authorised in line with our legislation is the one in Article 20 of the European Regulation. |
| --- | --- |

b)

As regards coins, the method to be authorised in line with our legislation is the one in Article 20 of the European Regulation.

YES

FI

Art. 17

Art. 20

YES

FR

| I. | Coins and banknote paper for printing banknotes must be transported:






  1. | either in armoured vehicles with a crew of at least three people, including the driver, in accordance with Article 4;
  [Article 4:






  I. | Armoured vehicles must be fitted out to ensure the security of the crew and the cash, jewellery or precious metal being transported.
  It must at least be equipped with:






  1. | a communication and alarm system connected to the alarm centre of the CIT company. In order to ensure approval of armoured CIT vehicles imported from other Member States or parties to the Agreement on the European Economic Area, test reports and certificates are accepted if they are drawn up by an approved or certified body in these States and guarantee that the armoured vehicle complies with technical and regulatory conditions ensuring a level of protection equivalent to that laid down in this decree and the order referred to in the previous subparagraph; |
| --- | --- | --- | --- | --- |

I.

Coins and banknote paper for printing banknotes must be transported:

1.

either in armoured vehicles with a crew of at least three people, including the driver, in accordance with Article 4;

[Article 4:

I.

Armoured vehicles must be fitted out to ensure the security of the crew and the cash, jewellery or precious metal being transported.

It must at least be equipped with:

1.

a communication and alarm system connected to the alarm centre of the CIT company. In order to ensure approval of armoured CIT vehicles imported from other Member States or parties to the Agreement on the European Economic Area, test reports and certificates are accepted if they are drawn up by an approved or certified body in these States and guarantee that the armoured vehicle complies with technical and regulatory conditions ensuring a level of protection equivalent to that laid down in this decree and the order referred to in the previous subparagraph;

| 2. | a remote tracking system enabling the company to check its location at all times; |
| --- | --- |

2.

a remote tracking system enabling the company to check its location at all times;

| 3. | bulletproof vests and gas masks, at least one for each member of the crew and, possibly, one for any other person with a legitimate reason for being in the vehicle. |
| --- | --- |

3.

bulletproof vests and gas masks, at least one for each member of the crew and, possibly, one for any other person with a legitimate reason for being in the vehicle.

| II. | The vehicle types, armoured sides and windows, and the characteristics of other components contributing to the security of the armoured vehicles are subject to prior authorisation by the Minister of Home Affairs, based on minimum standards, in particular resistance, set down by the Minister in an order which also establishes the contents of the dossier to be submitted when applying for approval.
  All substantial changes to the conditions of manufacture of the vehicles or the conditions of manufacture or installation of the armoured parts, windows and other components referred to in the previous subparagraph must be authorised in each case.
  Authorisation can be withdrawn if the materials referred to in point II of this Article are no longer sufficient to ensure the security of the staff or of the funds transported.] |
| --- | --- |

II.

The vehicle types, armoured sides and windows, and the characteristics of other components contributing to the security of the armoured vehicles are subject to prior authorisation by the Minister of Home Affairs, based on minimum standards, in particular resistance, set down by the Minister in an order which also establishes the contents of the dossier to be submitted when applying for approval.

All substantial changes to the conditions of manufacture of the vehicles or the conditions of manufacture or installation of the armoured parts, windows and other components referred to in the previous subparagraph must be authorised in each case.

Authorisation can be withdrawn if the materials referred to in point II of this Article are no longer sufficient to ensure the security of the staff or of the funds transported.]

| 2. | Or in armoured vehicles, in accordance with Article 4, and equipped with devices guaranteeing that the cash transported can be rendered unfit for use under the conditions set out in Article 8(1).
  [Article 8(1) lays down the conditions with which devices to neutralise valuables must comply]
  If these vehicles are equipped with at least one of the devices referred to in the previous subparagraph for each pick-up/delivery point, their crew must consist of at least two crew members including the driver. The provisions in point II of Article 4 can, in this case, apply only to the cabin of the vehicle.
  If these vehicles are equipped with fewer of the above devices than there are pick-up/delivery points, the crew must consist of at least three people including the driver. |
| --- | --- |

2.

Or in armoured vehicles, in accordance with Article 4, and equipped with devices guaranteeing that the cash transported can be rendered unfit for use under the conditions set out in Article 8(1).

[Article 8(1) lays down the conditions with which devices to neutralise valuables must comply]

If these vehicles are equipped with at least one of the devices referred to in the previous subparagraph for each pick-up/delivery point, their crew must consist of at least two crew members including the driver. The provisions in point II of Article 4 can, in this case, apply only to the cabin of the vehicle.

If these vehicles are equipped with fewer of the above devices than there are pick-up/delivery points, the crew must consist of at least three people including the driver.

| 3. | Or in unmarked vehicles with a crew consisting of at least two people including the driver, in line with the conditions in Articles 7 and 8, provided that the cash is placed in devices that will render it unfit for use and that there are at least as many such devices as there are pick-up/delivery points, or that the devices are equipped with a collection system that can only be opened in a secure place or area.
  However, in order to service cash dispensers located in certain areas at risk, the cash must be transported in line with the conditions in paragraph 1 and the cash dispensers must be refilled by one of the crew members. |
| --- | --- |

3.

Or in unmarked vehicles with a crew consisting of at least two people including the driver, in line with the conditions in Articles 7 and 8, provided that the cash is placed in devices that will render it unfit for use and that there are at least as many such devices as there are pick-up/delivery points, or that the devices are equipped with a collection system that can only be opened in a secure place or area.

However, in order to service cash dispensers located in certain areas at risk, the cash must be transported in line with the conditions in paragraph 1 and the cash dispensers must be refilled by one of the crew members.

(II – concerns jewellery and precious metal)

| III. | Coins and investment gold within the meaning of Article 298 sexdecies A of the General Taxation Code must be transported in armoured vehicles with a crew of at least three people including the driver, in line with the provisions in Article 4.
  By way of derogation from the previous subparagraph, Banque de France coin shipments consisting of at least EUR 115 000 in 1 and 2-euro coins must be transported:






  1. | in armoured vehicles on which the name of the CIT company is not featured, with a crew of at least two armed, uniformed guards, including the driver, under the conditions set out in the first three subparagraphs of Article 8; |
| --- | --- | --- |

III.

Coins and investment gold within the meaning of Article 298 sexdecies A of the General Taxation Code must be transported in armoured vehicles with a crew of at least three people including the driver, in line with the provisions in Article 4.

By way of derogation from the previous subparagraph, Banque de France coin shipments consisting of at least EUR 115 000 in 1 and 2-euro coins must be transported:

1.

in armoured vehicles on which the name of the CIT company is not featured, with a crew of at least two armed, uniformed guards, including the driver, under the conditions set out in the first three subparagraphs of Article 8;

| 2. | or, if the total volume transported does not exceed EUR 500 000 and if the pick-up/delivery points under the responsibility of the Banque de France, the CIT companies, the national police or gendarmerie are secure places, in semi-armoured vehicles on which the name of the CIT company is not featured, with a crew of at least two armed, uniformed guards, including the driver, under the conditions in the first three subparagraphs of Article 8. |
| --- | --- |

2.

or, if the total volume transported does not exceed EUR 500 000 and if the pick-up/delivery points under the responsibility of the Banque de France, the CIT companies, the national police or gendarmerie are secure places, in semi-armoured vehicles on which the name of the CIT company is not featured, with a crew of at least two armed, uniformed guards, including the driver, under the conditions in the first three subparagraphs of Article 8.

[Article 8: all unmarked vehicles used to transport cash placed in the devices referred to in Article 2(I)(3) or used to transport jewellery or precious metal must be equipped at least with the following:

| 1. | A communication and alarm system, linked to the alarm centre of the CIT company responsible for transporting the cash; |
| --- | --- |

1.

A communication and alarm system, linked to the alarm centre of the CIT company responsible for transporting the cash;

| 2. | A remote tracking system making it possible for the CIT company to check the location of the vehicle at all times]. |
| --- | --- |

2.

A remote tracking system making it possible for the CIT company to check the location of the vehicle at all times].

Confirmation:

Notes: compatibility of Article 2 with Articles 14, 16 and 17 of the EU Regulation.

National legislation to be amended:

to ensure compatibility of Article 2 point III with Articles 19 and 20 of the EU Regulation

IT

Art. 15 - 18

(in relation to the provision of DM.269/2010)

Art. 19 - 20

(in relation to the provision of DM.269/2010)

YES

LV

Art. 14 - 18

Art. 19 - 20

Art. 14 - 20 have been implemented in their entirety, and there are no stricter requirements in force.

LT

According to national law, all the conditions laid down in Art. 14 – 18 of the Regulation are applicable in Lithuania.

A category (according to directive 91/477/EEC) of weapons is forbidden in Lithuania for civil use. CIT security staff can carry only B or C category firearms with prior consent issued by Police department under MoI.

According to national law, all the conditions laid down in Art. 19 - 20 of the Regulation are applicable in Lithuania.

YES

LU

Art. 16 - 17

(Under the condition that bill of law 6400 and the relevant executing grand-ducal regulation will be adopted as proposed by the Government).

Art. 20

(Under the condition that bill of law 6400 and the relevant executing grand-ducal regulation will be adopted as proposed by the Government).

YES

NL

Art. 17 - 18

Art. 20

YES

PT

Art. 17 - 18

Art. 20

The options referred to correspond partly to national requirements applicable to the transport of valuables in Portugal, however the criterion as regards the amount transported is equal to or greater than EUR 10 000 (Order (Portaria) No 247/2008 of 27 March, amended by Order No 840/2009 of 3 August 2009, in force until the publication of the Order provided for in Article 34(3) of Law No 34/2013 of 16 May 2013).

National transport in non-armoured vehicles is permitted for valuables of under EUR 10 000 .

The use of approved uniforms and professional identity cards is compulsory (Article 29 of Law No 34/2013 of 16 May 2013).

SK

All the conditions laid down in Articles 14 to 18 of the Regulation are applicable in the sense of national law of the Slovak Republic pursuant to the Act, no. 473/2005 Coll. of 23 September 2005 on services in the private security sector and amending certain Acts (alias Act on private security)

All the conditions laid down in Art. 19 - 20 of the Regulation are applicable in the sense of national law of the Slovak Republic pursuant to the Act, no. 473/2005 Coll. of 23 September 2005 on services in the private security sector and amending certain Acts (alias Act on private security)

Partial compliance and differentiation applies to the abundance of security officers and accompanying vehicles. The decisive criterion is the amount of EUR 1 660 000 .

SI

Art. 17 and 18 or any of national rules under Rules on the transport and protection of cash and other valuable deliveries (Official Gazette of the RS No.< 0} {0><}78{> 96/05, < 016/08, 81/08, 86/09 and 17/11) article 16 to 20.

Article 16 (transport of class 1 protected delivery value does not exceed the euro counter value of EUR 30 000 )

| (1) | A transport of class 1 protected delivery shall be carried out with two armed security guard. |
| --- | --- |

(1)

A transport of class 1 protected delivery shall be carried out with two armed security guard.

| (2) | The transport shall be carried out in a modified vehicle with the following equipment:






  — | physically separate passenger and cargo section of the vehicle with a fixed and hard partition wall which allows for the storage of the protected delivery from the passenger into the cargo section; |
| --- | --- | --- |

(2)

The transport shall be carried out in a modified vehicle with the following equipment:

—

physically separate passenger and cargo section of the vehicle with a fixed and hard partition wall which allows for the storage of the protected delivery from the passenger into the cargo section;

| — | cargo section without glass; |
| --- | --- |

—

cargo section without glass;

| — | built-in safe made from sheet metal in the cargo section which shall allow the placement of the delivery into the cargo section through a slot or an opening in the passenger section; |
| --- | --- |

—

built-in safe made from sheet metal in the cargo section which shall allow the placement of the delivery into the cargo section through a slot or an opening in the passenger section;

| — | alarm device to be triggered upon forced entry; |
| --- | --- |

—

alarm device to be triggered upon forced entry;

| — | blocking of engine which prevents the removal of the vehicle; |
| --- | --- |

—

blocking of engine which prevents the removal of the vehicle;

| — | communication and surveillance system. |
| --- | --- |

—

communication and surveillance system.

| (3) | Irrespective of the provision in Indent 3 of the preceding Paragraph, a transport of protected delivery may be carried out if the delivery is technically secured by being stored in a modified briefcase, bag or cassette that is separately marked and of such construction that renders forced opening difficult and alerts the taking with a sound, light, smoke or technical signal. It shall be transported in a cargo section of the vehicle. |
| --- | --- |

(3)

Irrespective of the provision in Indent 3 of the preceding Paragraph, a transport of protected delivery may be carried out if the delivery is technically secured by being stored in a modified briefcase, bag or cassette that is separately marked and of such construction that renders forced opening difficult and alerts the taking with a sound, light, smoke or technical signal. It shall be transported in a cargo section of the vehicle.

| (4) | Irrespective of the provision in paragraph 1, a transport of protected delivery may be carried out with one armed security guard, in case the protected delivery is secured with a certified system for colouring or destroying cash. |
| --- | --- |

(4)

Irrespective of the provision in paragraph 1, a transport of protected delivery may be carried out with one armed security guard, in case the protected delivery is secured with a certified system for colouring or destroying cash.

| (5) | Security guards shall wear bulletproof jackets or bulletproof shirts. |
| --- | --- |

(5)

Security guards shall wear bulletproof jackets or bulletproof shirts.

Article 17 (transport of class 2 protected delivery value up to the euro counter value of EUR 200 000 per each transport vehicle)

| (1) | A transport of class 2 protected delivery shall be carried out with two armed security guards. |
| --- | --- |

(1)

A transport of class 2 protected delivery shall be carried out with two armed security guards.

| (2) | The transport shall be carried out in a modified vehicle with the following equipment:






  — | physically separate passenger and cargo section of the vehicle with a fixed hard partition wall; |
| --- | --- | --- |

(2)

The transport shall be carried out in a modified vehicle with the following equipment:

—

physically separate passenger and cargo section of the vehicle with a fixed hard partition wall;

| — | cargo section without glass; |
| --- | --- |

—

cargo section without glass;

| — | built-in safe in the cargo section that is constructed from bulletproof sheet metal that renders drilling and cutting difficult, that is installed on the vehicle chassis from the internal side, and that allows for the cash to be placed inside it through a slot or an opening from the passenger section; |
| --- | --- |

—

built-in safe in the cargo section that is constructed from bulletproof sheet metal that renders drilling and cutting difficult, that is installed on the vehicle chassis from the internal side, and that allows for the cash to be placed inside it through a slot or an opening from the passenger section;

| — | alarm device to be triggered upon forced entry; |
| --- | --- |

—

alarm device to be triggered upon forced entry;

| — | blocking of engine which prevents the removal of the vehicle; |
| --- | --- |

—

blocking of engine which prevents the removal of the vehicle;

| — | communication and surveillance system. |
| --- | --- |

—

communication and surveillance system.

| (3) | Irrespective of the provision in Indent 3 of the preceding Paragraph, a transport of protected delivery may be carried out if the delivery is technically secured by being stored in a modified briefcase, bag or cassette that is separately marked and of such construction that renders forced opening difficult and alerts the taking with a sound, light, smoke or technical signal. It shall be transported in a cargo section of the vehicle. |
| --- | --- |

(3)

Irrespective of the provision in Indent 3 of the preceding Paragraph, a transport of protected delivery may be carried out if the delivery is technically secured by being stored in a modified briefcase, bag or cassette that is separately marked and of such construction that renders forced opening difficult and alerts the taking with a sound, light, smoke or technical signal. It shall be transported in a cargo section of the vehicle.

| (4) | Security guards shall wear bulletproof jackets or bulletproof shirts. |
| --- | --- |

(4)

Security guards shall wear bulletproof jackets or bulletproof shirts.

Article 17a (transport of class 3 protected delivery value up to the euro counter value of EUR 800 000 per each transport vehicle)

| (1) | A transport of class 3 protected delivery shall be carried out with at least two armed security guards. |
| --- | --- |

(1)

A transport of class 3 protected delivery shall be carried out with at least two armed security guards.

| (2) | The transport shall be carried out in a bulletproof vehicle with the following equipment:






  — | separate section for the crew and for the cargo; |
| --- | --- | --- |

(2)

The transport shall be carried out in a bulletproof vehicle with the following equipment:

—

separate section for the crew and for the cargo;

| — | section for the crew protected with antiballistic protection M2/C2 from all four sides; |
| --- | --- |

—

section for the crew protected with antiballistic protection M2/C2 from all four sides;

| — | section for cargo which is bulletproof and has an external door with an additional cross bar lock; |
| --- | --- |

—

section for cargo which is bulletproof and has an external door with an additional cross bar lock;

| — | alarm device; |
| --- | --- |

—

alarm device;

| — | system installed for a remote blocking of the vehicle or the engine with the possibility for its activation from the security control centre (hereinafter: SCC); |
| --- | --- |

—

system installed for a remote blocking of the vehicle or the engine with the possibility for its activation from the security control centre (hereinafter: SCC);

| — | communication system without opening the door (intercom); |
| --- | --- |

—

communication system without opening the door (intercom);

| — | communication and surveillance system. |
| --- | --- |

—

communication and surveillance system.

| (3) | Security guards shall wear bulletproof jackets. |
| --- | --- |

(3)

Security guards shall wear bulletproof jackets.

Article 18 (transport of class 4 protected delivery value up to the euro counter value of EUR 4 000 000 per each transport vehicle)

| (1) | A transport of class 4 protected delivery shall be carried out with at least three armed security guards. |
| --- | --- |

(1)

A transport of class 4 protected delivery shall be carried out with at least three armed security guards.

| (2) | The transport shall be carried out in a bulletproof vehicle with the following equipment:






  — | separate section for the crew and for the cargo; |
| --- | --- | --- |

(2)

The transport shall be carried out in a bulletproof vehicle with the following equipment:

—

separate section for the crew and for the cargo;

| — | place for the crew protected with antiballistic protection FB 3 from all four sides; |
| --- | --- |

—

place for the crew protected with antiballistic protection FB 3 from all four sides;

| — | section for cargo without windows and an external door with an additional cross bar lock; |
| --- | --- |

—

section for cargo without windows and an external door with an additional cross bar lock;

| — | alarm device; |
| --- | --- |

—

alarm device;

| — | system installed for a remote blocking of the vehicle or the engine with the possibility for its activation from the security control centre (hereinafter: SCC); |
| --- | --- |

—

system installed for a remote blocking of the vehicle or the engine with the possibility for its activation from the security control centre (hereinafter: SCC);

| — | communication system without opening the door (intercom); |
| --- | --- |

—

communication system without opening the door (intercom);

| — | communication and surveillance system. |
| --- | --- |

—

communication and surveillance system.

| (3) | Security guards shall wear bulletproof jackets. |
| --- | --- |

(3)

Security guards shall wear bulletproof jackets.

Article 19 (transport of class 5 protected delivery value up to the euro counter value of EUR 8 000 000 per each transport vehicle)

| (1) | A transport of class 5 protected delivery shall be carried out with at least three armed security guards. |
| --- | --- |

(1)

A transport of class 5 protected delivery shall be carried out with at least three armed security guards.

| (2) | Security guards shall at least wear the following protective devices:






  — | bulletproof jackets; and |
| --- | --- | --- |

(2)

Security guards shall at least wear the following protective devices:

—

bulletproof jackets; and

| — | security helmets. |
| --- | --- |

—

security helmets.

| (3) | The transport shall be carried out in a bulletproof vehicle with the following equipment:






  — | separate section for cargo, driver and security guard; |
| --- | --- | --- |

(3)

The transport shall be carried out in a bulletproof vehicle with the following equipment:

—

separate section for cargo, driver and security guard;

| — | vehicle must be bulletproof against at least FB 3 category from all four sides; |
| --- | --- |

—

vehicle must be bulletproof against at least FB 3 category from all four sides;

| — | section for cargo without glass, with a back door and an access to deliveries from the crew section; |
| --- | --- |

—

section for cargo without glass, with a back door and an access to deliveries from the crew section;

| — | alarm device; |
| --- | --- |

—

alarm device;

| — | communication system without opening the door (intercom); |
| --- | --- |

—

communication system without opening the door (intercom);

| — | video surveillance system at the back of the vehicle with an engine in the driver’s cabin; |
| --- | --- |

—

video surveillance system at the back of the vehicle with an engine in the driver’s cabin;

| — | communication system; |
| --- | --- |

—

communication system;

| — | surveillance system which allows for the online monitoring of movements of the delivery in intervals of no more than one minute, in an area of service without interruption from the security control centre (hereinafter: SCC) and which allows for the determination of the exact location of a secured delivery at any time; |
| --- | --- |

—

surveillance system which allows for the online monitoring of movements of the delivery in intervals of no more than one minute, in an area of service without interruption from the security control centre (hereinafter: SCC) and which allows for the determination of the exact location of a secured delivery at any time;

| — | system installed for a remote blocking of the vehicle or the engine which cannot be deactivated from the vehicle. |
| --- | --- |

—

system installed for a remote blocking of the vehicle or the engine which cannot be deactivated from the vehicle.

| (4) | The delivery shall be escorted by a personal vehicle with two armed security guards. The escorting vehicle shall have equipment for direct communication with the security control centre (hereinafter: SCC). |
| --- | --- |

(4)

The delivery shall be escorted by a personal vehicle with two armed security guards. The escorting vehicle shall have equipment for direct communication with the security control centre (hereinafter: SCC).

Article 20 (transport of class 6 protected delivery value above the euro counter value of EUR 8 000 000 per each transport vehicle)

| (1) | A transport of class 6 protected delivery shall be carried out with at least three armed security guards. |
| --- | --- |

(1)

A transport of class 6 protected delivery shall be carried out with at least three armed security guards.

| (2) | Security guards shall at least wear following protective devices:






  — | bulletproof jackets; and |
| --- | --- | --- |

(2)

Security guards shall at least wear following protective devices:

—

bulletproof jackets; and

| — | security helmets. |
| --- | --- |

—

security helmets.

| (3) | The transport shall be carried out in a bulletproof vehicle which shall have the equipment laid down in Paragraph 3 of the preceding Article and antiballistic protection against bullets of FB 4. |
| --- | --- |

(3)

The transport shall be carried out in a bulletproof vehicle which shall have the equipment laid down in Paragraph 3 of the preceding Article and antiballistic protection against bullets of FB 4.

| (4) | The transport must be accompanied by a bulletproof vehicle with antiballistic protection against bullets at least FB 3 from all four sides, with three armed security guards. The accompanying vehicle must be equipped with device for direct communication with security control centre (hereinafter: SCC). |
| --- | --- |

(4)

The transport must be accompanied by a bulletproof vehicle with antiballistic protection against bullets at least FB 3 from all four sides, with three armed security guards. The accompanying vehicle must be equipped with device for direct communication with security control centre (hereinafter: SCC).

Regulation on the implementation of Regulation (EU) No 1214/2011 is in adoption procedure and have some special regulation:

| — | allows that foreign CIT companies may under the conditions by Regulation (EU) No 1214/2011 transport in Slovenia also other cash (not just euro cash) above the 20 % like regulated in Regulation (EU) No 1214/2011 |
| --- | --- |

—

allows that foreign CIT companies may under the conditions by Regulation (EU) No 1214/2011 transport in Slovenia also other cash (not just euro cash) above the 20 % like regulated in Regulation (EU) No 1214/2011

| — | allows that foreign CIT companies may under the conditions by Regulation (EU) No 1214/2011 transport in Slovenia also other valuable (not just euro cash or other cash) which is not regulated in Regulation (EU) No 1214/2011. Valuables are precious metals, precious stones, works of art, cultural heritage, valuable documents, etc. An object of cultural heritage is an object that is classified as such according to the regulations applicable to classifying types of objects of cultural heritage, national wealth accordance with the rules that provides protection and storage of national treasures and museum material accordance with the rules that provides protection and storage of museum material. In case that this is not possible of specific circumstances the national rules from Article 22 from Rules on the transport and protection of cash and other valuable deliveries (Official Gazette of the RS No.< 0} {0><}78{> 96/05, < 016/08, 81/08, 86/09 and 17/11) could be used. |
| --- | --- |

—

allows that foreign CIT companies may under the conditions by Regulation (EU) No 1214/2011 transport in Slovenia also other valuable (not just euro cash or other cash) which is not regulated in Regulation (EU) No 1214/2011. Valuables are precious metals, precious stones, works of art, cultural heritage, valuable documents, etc. An object of cultural heritage is an object that is classified as such according to the regulations applicable to classifying types of objects of cultural heritage, national wealth accordance with the rules that provides protection and storage of national treasures and museum material accordance with the rules that provides protection and storage of museum material. In case that this is not possible of specific circumstances the national rules from Article 22 from Rules on the transport and protection of cash and other valuable deliveries (Official Gazette of the RS No.< 0} {0><}78{> 96/05, < 016/08, 81/08, 86/09 and 17/11) could be used.

Art. 20 or any of national rules under Rules on the transport and protection of cash and other valuable deliveries (Official Gazette of the RS No.< 0} {0><}78{> 96/05, < 016/08, 81/08, 86/09 and 17/11) article 16 to 20 as described for banknotes.

Partial compliance.

National rules and special conditions based on the amount of valuable of transport.

Andorra

Art. 14 - 18

Art. 19 - 20

Monaco

Rules apply as per France

Rules apply as per France

San Marino

Art. 17

Art. 20

Vatican

N/A

N/A

No transposition as Vatican opted for transport of cash under police escort which falls out of the scope of the Regulation (Article 2 mutatis mutandis)

---

| 4.5.2017 | EN | Official Journal of the European Union | C 139/24 |
| --- | --- | --- | --- |

4.5.2017

EN

Official Journal of the European Union

C 139/24

---

List of accounts that are to be treated as Excluded Accounts for the purposes of subparagraph C.17(g) of Section VIII of Annex I of Council Directive 2011/16/EU

(2017/C 139/06)

The list below replaces the list published in OJ C 481, 23.12.2016. An amendment has been made in the list of Ireland.

| Member State | Accounts (in the national language) |
| --- | --- |
| Belgium | — | Certaines pensions complémentaires liées à l’activité professionnelle souscrites par l’employeur/l’entreprise telles que définies dans ou aux fins des législations suivantes: (1) Loi du 28 avril 2003 relative aux pensions complémentaires et au régime fiscal de celles-ci et de certains avantages complémentaires en matière de sécurité sociale; (2) Titre 4 ‘Pension complémentaire pour dirigeants d’entreprise’ de la loi du 15 mai 2014 portant des dispositions diverses; (3) Articles 43 à 61, 71 et 77 de l’Arrêté royal du 14 novembre 2003 relatif à l’activité d’assurance sur la vie; (4) Articles 34, 52, 3o, b, 59, 145-1, 1o, 145-3 et 195 du Code des impôts sur les revenus 1992/Bepaalde bedrijfsgebonden aanvullende pensioenen onderschreven door de werkgever/de onderneming, zoals omschreven in of voor de toepassing van de volgende wetgevingen: (1) Wet van 28 April 2003 betreffende de aanvullende pensioenen en het belastingstelsel van die pensioenen en van sommige aanvullende voordelen inzake sociale zekerheid; (2) Title 4, ‘Aanvullend pensioen voor bedrijfsleiders’ van de Wet van 15 mei 2014 houdende diverse bepalingen; (3) Artikelen 43 tot 61, 71 en 77 van het Koninklijk besluit van 14 november 2003 betreffende de levensverzekeringsactiviteit; (4) Artikelen 34, 52, 3o, b, 59, 145-1, 1o, 145-3 en 195 van het Wetboek der inkomstenbelastingen 1992. |

Member State

Accounts (in the national language)

Belgium

—

Certaines pensions complémentaires liées à l’activité professionnelle souscrites par l’employeur/l’entreprise telles que définies dans ou aux fins des législations suivantes: (1) Loi du 28 avril 2003 relative aux pensions complémentaires et au régime fiscal de celles-ci et de certains avantages complémentaires en matière de sécurité sociale; (2) Titre 4 ‘Pension complémentaire pour dirigeants d’entreprise’ de la loi du 15 mai 2014 portant des dispositions diverses; (3) Articles 43 à 61, 71 et 77 de l’Arrêté royal du 14 novembre 2003 relatif à l’activité d’assurance sur la vie; (4) Articles 34, 52, 3o, b, 59, 145-1, 1o, 145-3 et 195 du Code des impôts sur les revenus 1992/Bepaalde bedrijfsgebonden aanvullende pensioenen onderschreven door de werkgever/de onderneming, zoals omschreven in of voor de toepassing van de volgende wetgevingen: (1) Wet van 28 April 2003 betreffende de aanvullende pensioenen en het belastingstelsel van die pensioenen en van sommige aanvullende voordelen inzake sociale zekerheid; (2) Title 4, ‘Aanvullend pensioen voor bedrijfsleiders’ van de Wet van 15 mei 2014 houdende diverse bepalingen; (3) Artikelen 43 tot 61, 71 en 77 van het Koninklijk besluit van 14 november 2003 betreffende de levensverzekeringsactiviteit; (4) Artikelen 34, 52, 3o, b, 59, 145-1, 1o, 145-3 en 195 van het Wetboek der inkomstenbelastingen 1992.

Bulgaria

| — | Набирателни сметки за капитала на дружество в процес на регистрация с наличност до 1 000 USD. |
| --- | --- |

—

Набирателни сметки за капитала на дружество в процес на регистрация с наличност до 1 000 USD.

| — | Набирателни сметки за капитала на дружество в процес на регистрация с наличност над 1 000 USD, които ще бъдат обект на комплексна проверка в срок до 2 години от откриването им. |
| --- | --- |

—

Набирателни сметки за капитала на дружество в процес на регистрация с наличност над 1 000 USD, които ще бъдат обект на комплексна проверка в срок до 2 години от откриването им.

| — | Сметки на етажна собственост с наличност до 50 000 USD, които се използват единствено за управлението и поддръжката на етажната собственост. |
| --- | --- |

—

Сметки на етажна собственост с наличност до 50 000 USD, които се използват единствено за управлението и поддръжката на етажната собственост.

Czech Republic

| — | Důchodové spoření podle zákona o důchodovém spoření. |
| --- | --- |

—

Důchodové spoření podle zákona o důchodovém spoření.

| — | Penzijní připojištění se státním příspěvkem podle zákona o penzijním připojištění se státním příspěvkem a splňující podmínky podle vyhlášky o vyňatých účtech pro účely automatické výměny informací v rámci mezinárodní spolupráce při správě daní. |
| --- | --- |

—

Penzijní připojištění se státním příspěvkem podle zákona o penzijním připojištění se státním příspěvkem a splňující podmínky podle vyhlášky o vyňatých účtech pro účely automatické výměny informací v rámci mezinárodní spolupráce při správě daní.

| — | Doplňkové penzijní spoření podle zákona o doplňkovém penzijním spoření a splňující podmínky podle vyhlášky o vyňatých účtech pro účely automatické výměny informací v rámci mezinárodní spolupráce při správě daní. |
| --- | --- |

—

Doplňkové penzijní spoření podle zákona o doplňkovém penzijním spoření a splňující podmínky podle vyhlášky o vyňatých účtech pro účely automatické výměny informací v rámci mezinárodní spolupráce při správě daní.

Denmark

| — | Pensionsordninger omfattet af pensionsbeskatningslovens § 2 (pensionsordninger med løbende livsbetingede ydelser). |
| --- | --- |

—

Pensionsordninger omfattet af pensionsbeskatningslovens § 2 (pensionsordninger med løbende livsbetingede ydelser).

| — | Pensionsordninger omfattet af pensionsbeskatningslovens § 5 (garanterede ydelser). |
| --- | --- |

—

Pensionsordninger omfattet af pensionsbeskatningslovens § 5 (garanterede ydelser).

| — | Selvpensioneringskonti omfattet af pensionsbeskatningslovens § 51. |
| --- | --- |

—

Selvpensioneringskonti omfattet af pensionsbeskatningslovens § 51.

| — | Uddannelseskonti oprettet i overensstemmelse med lov om uddannelsesopsparing. |
| --- | --- |

—

Uddannelseskonti oprettet i overensstemmelse med lov om uddannelsesopsparing.

| — | Boligsparekontrakter oprettet i overensstemmelse med lov om boligsparekontrakter. |
| --- | --- |

—

Boligsparekontrakter oprettet i overensstemmelse med lov om boligsparekontrakter.

Germany

| — | Rücklagenkonten von Wohnungseigentümergemeinschaften (WEG). |
| --- | --- |

—

Rücklagenkonten von Wohnungseigentümergemeinschaften (WEG).

Estonia

No account to be treated as Excluded Account.

Ireland

| — | A Personal Retirement Savings Account (PRSA) in respect of an approved PRSA product. |
| --- | --- |

—

A Personal Retirement Savings Account (PRSA) in respect of an approved PRSA product.

| — | An Approved Retirement Fund or an Approved Minimum Retirement Fund. |
| --- | --- |

—

An Approved Retirement Fund or an Approved Minimum Retirement Fund.

| — | An Approved Pension Scheme or Product. |
| --- | --- |

—

An Approved Pension Scheme or Product.

| — | Retirement Annuity Contract |
| --- | --- |

—

Retirement Annuity Contract

| — | Personal Retirement Bonds (PRBs) |
| --- | --- |

—

Personal Retirement Bonds (PRBs)

Greece

| — | Ομαδικά συνταξιοδοτικά προγράμματα του ν.4172/2013. |
| --- | --- |

—

Ομαδικά συνταξιοδοτικά προγράμματα του ν.4172/2013.

Spain

| — | Los seguros colectivos que instrumentan compromisos por pensiones en aplicación de la disposición adicional primera del Texto refundido de la Ley de regulación de Planes y Fondos de pensiones, aprobado por Real Decreto Legislativo 1/2002, de 29 de noviembre, siempre que las aportaciones se determinen mediante convenio colectivo entre la empresa y los representantes sindicales, o por ley. |
| --- | --- |

—

Los seguros colectivos que instrumentan compromisos por pensiones en aplicación de la disposición adicional primera del Texto refundido de la Ley de regulación de Planes y Fondos de pensiones, aprobado por Real Decreto Legislativo 1/2002, de 29 de noviembre, siempre que las aportaciones se determinen mediante convenio colectivo entre la empresa y los representantes sindicales, o por ley.

| — | Una cuenta representativa de las aportaciones a patrimonios protegidos de las personas con discapacidad a que hace referencia el artículo 54 y la disposición adicional decimoctava de la Ley 35/2006, de 28 de noviembre, del Impuesto sobre la Renta de las Personas Físicas y de modificación parcial de las Leyes de los Impuestos sobre Sociedades, sobre la Renta de no Residentes y sobre el Patrimonio. |
| --- | --- |

—

Una cuenta representativa de las aportaciones a patrimonios protegidos de las personas con discapacidad a que hace referencia el artículo 54 y la disposición adicional decimoctava de la Ley 35/2006, de 28 de noviembre, del Impuesto sobre la Renta de las Personas Físicas y de modificación parcial de las Leyes de los Impuestos sobre Sociedades, sobre la Renta de no Residentes y sobre el Patrimonio.

| — | Una cuenta preexistente (a excepción de un contrato de anualidades) con un saldo anual inferior a un importe en euros correspondiente a 1 000 dólares estadounidenses, que tenga la consideración de cuenta inactiva, de acuerdo con la definición prevista en los Comentarios a la Sección III del Estándar Común de Comunicación del Información. |
| --- | --- |

—

Una cuenta preexistente (a excepción de un contrato de anualidades) con un saldo anual inferior a un importe en euros correspondiente a 1 000 dólares estadounidenses, que tenga la consideración de cuenta inactiva, de acuerdo con la definición prevista en los Comentarios a la Sección III del Estándar Común de Comunicación del Información.

France

| — | Compte d’épargne logement (CEL). |
| --- | --- |

—

Compte d’épargne logement (CEL).

| — | Contrats établis dans le respect des conditions fixées par l’article L. 2223-33-1 du code général des collectivités territoriales, dénommés contrats obsèques. |
| --- | --- |

—

Contrats établis dans le respect des conditions fixées par l’article L. 2223-33-1 du code général des collectivités territoriales, dénommés contrats obsèques.

| — | Contrat bénéficiant de l’article 154 bis du code général des impôts, dénommés contrats ‘Madelin’. |
| --- | --- |

—

Contrat bénéficiant de l’article 154 bis du code général des impôts, dénommés contrats ‘Madelin’.

| — | Contrat bénéficiant de l’article 154 bis-0 A du code général des impôts, dénommés contrats ‘Madelin Agricole’. |
| --- | --- |

—

Contrat bénéficiant de l’article 154 bis-0 A du code général des impôts, dénommés contrats ‘Madelin Agricole’.

| — | Contrat de retraite collective d’entreprise à cotisations définies bénéficiant de l’article 83 du code général des impôts, dénommés ‘contrats de l’article 83 du code général des impôts’. |
| --- | --- |

—

Contrat de retraite collective d’entreprise à cotisations définies bénéficiant de l’article 83 du code général des impôts, dénommés ‘contrats de l’article 83 du code général des impôts’.

| — | Livret A. |
| --- | --- |

—

Livret A.

| — | Livret Bleu. |
| --- | --- |

—

Livret Bleu.

| — | Livret d’Épargne Populaire (LEP). |
| --- | --- |

—

Livret d’Épargne Populaire (LEP).

| — | Livret de développement durable (LDD). |
| --- | --- |

—

Livret de développement durable (LDD).

| — | Livret jeune. |
| --- | --- |

—

Livret jeune.

| — | Plan d’Épargne Entreprises (PEE). |
| --- | --- |

—

Plan d’Épargne Entreprises (PEE).

| — | Plan d’Épargne Interentreprises (PEI). |
| --- | --- |

—

Plan d’Épargne Interentreprises (PEI).

| — | Plan d’Épargne Logement (PEL). |
| --- | --- |

—

Plan d’Épargne Logement (PEL).

| — | Plan d’Épargne Populaire (PEP). |
| --- | --- |

—

Plan d’Épargne Populaire (PEP).

| — | Plan d’Épargne pour la Retraite Collectif (PERCO). |
| --- | --- |

—

Plan d’Épargne pour la Retraite Collectif (PERCO).

| — | Plan d’Épargne pour la Retraite Collectif Interentreprises (PERCOI). |
| --- | --- |

—

Plan d’Épargne pour la Retraite Collectif Interentreprises (PERCOI).

| — | Plan d’Épargne Retraite Entreprise (PÉRE). |
| --- | --- |

—

Plan d’Épargne Retraite Entreprise (PÉRE).

| — | Plan d’Épargne Retraite Populaire (PERP). |
| --- | --- |

—

Plan d’Épargne Retraite Populaire (PERP).

| — | Les régimes facultatifs de retraites complémentaires régis par les articles L. 441-1 et suivants du code des assurances: le régime complémentaire retraite des hospitaliers, le contrat complémentaire retraite mutualiste et le contrat PREFON. |
| --- | --- |

—

Les régimes facultatifs de retraites complémentaires régis par les articles L. 441-1 et suivants du code des assurances: le régime complémentaire retraite des hospitaliers, le contrat complémentaire retraite mutualiste et le contrat PREFON.

Croatia

No account to be treated as Excluded Account.

Italy

| — | Polizze collettive TFR a beneficio dei dipendenti calcolate su salari o stipendi e assoggettate a tassazione e contribuzione previdenziale. |
| --- | --- |

—

Polizze collettive TFR a beneficio dei dipendenti calcolate su salari o stipendi e assoggettate a tassazione e contribuzione previdenziale.

| — | Piani pensionistici individuali. |
| --- | --- |

—

Piani pensionistici individuali.

Cyprus

Προυπάρχων λογαριασμός(άλλος από ετήσια σύμβαση προσόδου)με ετήσιο υπόλοιπο που δεν υπερβαίνει τα 1 000 Δολλάρια Αμερικής, ο οποίος είναι αδρανής λογαριασμός σύμφωνα με τον ορισμό που προβλέπεται στα σχόλια μέρος ΙΙΙ του Κοινού Προτύπου Αναφοράς

Latvia

| — | Individuālais pensiju konts, kas izveidots atbilstoši likumam ‘Par privātajiem pensiju fondiem’. |
| --- | --- |

—

Individuālais pensiju konts, kas izveidots atbilstoši likumam ‘Par privātajiem pensiju fondiem’.

| — | Finanšu iestāde ir tiesīga atzīt par izslēgtu kontu iepriekšpastāvējušo fiziskas personas finanšu kontu (izņemot anuitātes līgumu), kas atbilst šādām pazīmēm:






  1) | tā ikgadējs konta beigu atlikums nepārsniedz summu, kas pēc Eiropas Centrālās bankas publicētā euro atsauces kursa ir ekvivalenta euro un atbilst USD 1 000 ; |
| --- | --- | --- |

—

Finanšu iestāde ir tiesīga atzīt par izslēgtu kontu iepriekšpastāvējušo fiziskas personas finanšu kontu (izņemot anuitātes līgumu), kas atbilst šādām pazīmēm:

1)

tā ikgadējs konta beigu atlikums nepārsniedz summu, kas pēc Eiropas Centrālās bankas publicētā euro atsauces kursa ir ekvivalenta euro un atbilst USD 1 000 ;

| 2) | konta turētājs saistībā ar šo vai konta turētāja citu kontu attiecīgajā finanšu iestādē nav veicis ne vienu darījumu pēdējo trīs gadu laikā; |
| --- | --- |

2)

konta turētājs saistībā ar šo vai konta turētāja citu kontu attiecīgajā finanšu iestādē nav veicis ne vienu darījumu pēdējo trīs gadu laikā;

| 3) | finanšu iestādē pēdējo sešu gadu laikā nav saņēmusi no konta turētāja jaunu, papildu vai precizēto informāciju saistībā ar šī konta vai konta turētāja cita konta uzturēšanu; |
| --- | --- |

3)

finanšu iestādē pēdējo sešu gadu laikā nav saņēmusi no konta turētāja jaunu, papildu vai precizēto informāciju saistībā ar šī konta vai konta turētāja cita konta uzturēšanu;

| 4) | uzkrājošās apdrošināšanas līguma gadījumā, attiecīgā finanšu iestāde pēdējo sešu gadu laikā nav sazinājusies ar konta turētāju saistībā ar jebkuru kontu, ko tas tur attiecīgajā finanšu iestādē. |
| --- | --- |

4)

uzkrājošās apdrošināšanas līguma gadījumā, attiecīgā finanšu iestāde pēdējo sešu gadu laikā nav sazinājusies ar konta turētāju saistībā ar jebkuru kontu, ko tas tur attiecīgajā finanšu iestādē.

Lithuania

No account to be treated as Excluded Account.

Luxembourg

| — | Comptes ouverts en vertu d’un contrat prévoyance-vieillesse visé par l’article 111bis de la loi modifiée du 4 décembre 1967 concernant l’impôt sur le revenu. |
| --- | --- |

—

Comptes ouverts en vertu d’un contrat prévoyance-vieillesse visé par l’article 111bis de la loi modifiée du 4 décembre 1967 concernant l’impôt sur le revenu.

| — | Comptes ouverts en vertu d’un contrat d’épargne-logement visé par l’article 111 alinéa 1er de la loi modifiée du 4 décembre 1967 concernant l’impôt sur le revenu. |
| --- | --- |

—

Comptes ouverts en vertu d’un contrat d’épargne-logement visé par l’article 111 alinéa 1er de la loi modifiée du 4 décembre 1967 concernant l’impôt sur le revenu.

| — | Comptes ouverts en vertu d’un régime complémentaire de pension visé par l’article 110 de la loi modifiée du 4 décembre 1967 concernant l’impôt sur le revenu. |
| --- | --- |

—

Comptes ouverts en vertu d’un régime complémentaire de pension visé par l’article 110 de la loi modifiée du 4 décembre 1967 concernant l’impôt sur le revenu.

Hungary

| — | Étkezési kártya számlák. |
| --- | --- |

—

Étkezési kártya számlák.

| — | Stabilitási Megtakarítási Számla. |
| --- | --- |

—

Stabilitási Megtakarítási Számla.

| — | Ügyvédi, közjegyzői letéti számla. |
| --- | --- |

—

Ügyvédi, közjegyzői letéti számla.

| — | Nyugdíj-előtakarékossági számla. |
| --- | --- |

—

Nyugdíj-előtakarékossági számla.

| — | Start számla. |
| --- | --- |

—

Start számla.

Malta

No account to be treated as Excluded Account.

Netherlands

| — | Levenslooprekening, levensloopverzekering and levensloop recht van deelneming. |
| --- | --- |

—

Levenslooprekening, levensloopverzekering and levensloop recht van deelneming.

| — | Oudedagslijfrenten. |
| --- | --- |

—

Oudedagslijfrenten.

| — | Kapitaalverzekering eigen woning. |
| --- | --- |

—

Kapitaalverzekering eigen woning.

| — | Spaarrekening eigen woning and Beleggingsrecht eigen woning. |
| --- | --- |

—

Spaarrekening eigen woning and Beleggingsrecht eigen woning.

| — | Bouwdepot. |
| --- | --- |

—

Bouwdepot.

| — | Alimentatie lijfrenten. |
| --- | --- |

—

Alimentatie lijfrenten.

| — | Gouden-handdruk stamrecht. |
| --- | --- |

—

Gouden-handdruk stamrecht.

| — | Invalide kind lijfrente. |
| --- | --- |

—

Invalide kind lijfrente.

Austria

| — | Abfertigungs- und Jubiläumsgeldauslagerungsversicherungen. |
| --- | --- |

—

Abfertigungs- und Jubiläumsgeldauslagerungsversicherungen.

| — | Begräbniskostenversicherungen. |
| --- | --- |

—

Begräbniskostenversicherungen.

| — | Betriebliche Kollektivversicherungen im Sinne der §§ 93 bis 98 des Versicherungsaufsichtsgesetzes 2016. |
| --- | --- |

—

Betriebliche Kollektivversicherungen im Sinne der §§ 93 bis 98 des Versicherungsaufsichtsgesetzes 2016.

| — | Ein bestehendes Konto mit einem den Gegenwert von 1 000 US-Dollar nicht überschreitenden Wert (ausgenommen ein Rentenversicherungsvertrag), das ein ruhendes Konto nach der Definition im Kommentar zu Abschnitt III des Gemeinsamen Meldestandards ist. |
| --- | --- |

—

Ein bestehendes Konto mit einem den Gegenwert von 1 000 US-Dollar nicht überschreitenden Wert (ausgenommen ein Rentenversicherungsvertrag), das ein ruhendes Konto nach der Definition im Kommentar zu Abschnitt III des Gemeinsamen Meldestandards ist.

| — | Ein bestehendes, vor dem 1. Juli 2002 eröffnetes Konto mit einem den Gegenwert von 10 000 US-Dollar nicht überschreitenden Wert (ausgenommen ein Rentenversicherungsvertrag),
  - das ein ruhendes Konto entsprechend der Definition im Kommentar zu Abschnitt III des Gemeinsamen Meldestandards ist,
  - bei dem Ein- und Auszahlungen sowie die Gutschrift von Überweisungen bzw. die Entgegennahme, der Erwerb und die Veräußerung von Wertpapieren sowie die Auszahlung von Guthaben und Erträgen nur nach Feststellung der Identität des Kunden gemäß den Verfahren zur Bekämpfung der Geldwäsche und Terrorismusfinanzierung zulässig sind; diese Regelungen werden von der Finanzmarktaufsicht beaufsichtigt, die Nichtbefolgung wird sanktioniert und
  - bei dem die Feststellung der Identität gemäß den Verfahren zur Bekämpfung der Geldwäsche und Terrorismusfinanzierung wiederum die Anwendung der Sorgfalts- und Meldepflichten nach dem Gemeinsamen Meldestandard nach sich zieht, da es sich ab diesem Zeitpunkt nicht mehr um ein ausgenommenes Konto handelt. |
| --- | --- |

—

Ein bestehendes, vor dem 1. Juli 2002 eröffnetes Konto mit einem den Gegenwert von 10 000 US-Dollar nicht überschreitenden Wert (ausgenommen ein Rentenversicherungsvertrag),

- das ein ruhendes Konto entsprechend der Definition im Kommentar zu Abschnitt III des Gemeinsamen Meldestandards ist,

- bei dem Ein- und Auszahlungen sowie die Gutschrift von Überweisungen bzw. die Entgegennahme, der Erwerb und die Veräußerung von Wertpapieren sowie die Auszahlung von Guthaben und Erträgen nur nach Feststellung der Identität des Kunden gemäß den Verfahren zur Bekämpfung der Geldwäsche und Terrorismusfinanzierung zulässig sind; diese Regelungen werden von der Finanzmarktaufsicht beaufsichtigt, die Nichtbefolgung wird sanktioniert und

- bei dem die Feststellung der Identität gemäß den Verfahren zur Bekämpfung der Geldwäsche und Terrorismusfinanzierung wiederum die Anwendung der Sorgfalts- und Meldepflichten nach dem Gemeinsamen Meldestandard nach sich zieht, da es sich ab diesem Zeitpunkt nicht mehr um ein ausgenommenes Konto handelt.

| — | Konten von Wohnungseigentümergemeinschaften und Miteigentumsgemeinschaften im Sinne des Wohnungseigentumsgesetzes 2002. |
| --- | --- |

—

Konten von Wohnungseigentümergemeinschaften und Miteigentumsgemeinschaften im Sinne des Wohnungseigentumsgesetzes 2002.

| — | Bauspareinlage gemäß § 1 Abs. 1 Bausparkassengesetz. |
| --- | --- |

—

Bauspareinlage gemäß § 1 Abs. 1 Bausparkassengesetz.

| — | Risikoversicherungen, bei denen der Eintritt des Versicherungsfalls ungewiss ist. |
| --- | --- |

—

Risikoversicherungen, bei denen der Eintritt des Versicherungsfalls ungewiss ist.

| — | Treuhandkonten (Anderkonten), deren Treuhänder ein befugter Parteienvertreter (Rechtsanwalt oder Notar) ist, sofern das Konto im Zusammenhang mit einem der in § 87 Z 5 GMSG angeführten Zwecke eingerichtet ist. |
| --- | --- |

—

Treuhandkonten (Anderkonten), deren Treuhänder ein befugter Parteienvertreter (Rechtsanwalt oder Notar) ist, sofern das Konto im Zusammenhang mit einem der in § 87 Z 5 GMSG angeführten Zwecke eingerichtet ist.

| — | Versicherungen im Rahmen der Zukunftssicherung im Sinne des § 3 Abs. 1 Z 15 lit. a EStG 1988. |
| --- | --- |

—

Versicherungen im Rahmen der Zukunftssicherung im Sinne des § 3 Abs. 1 Z 15 lit. a EStG 1988.

Poland

| — | Indywidualne konto emerytalne. |
| --- | --- |

—

Indywidualne konto emerytalne.

| — | Indywidualne konto zabezpieczenia emerytalnego. |
| --- | --- |

—

Indywidualne konto zabezpieczenia emerytalnego.

| — | Pracowniczy program emerytalny. |
| --- | --- |

—

Pracowniczy program emerytalny.

Portugal

| — | Planos Poupança Reforma. |
| --- | --- |

—

Planos Poupança Reforma.

| — | Uma conta pré-existente (desde que não se trate de um Contrato de renda) cujo saldo anual não exceda 1 000 USD, que seja uma conta inativa de acordo com a definição prevista nos Comentários à Secção III da Norma Comum de Comunicação. |
| --- | --- |

—

Uma conta pré-existente (desde que não se trate de um Contrato de renda) cujo saldo anual não exceda 1 000 USD, que seja uma conta inativa de acordo com a definição prevista nos Comentários à Secção III da Norma Comum de Comunicação.

Romania

No account to be treated as Excluded Account.

Slovenia

| — | Varčevalni račun po nacionalni stanovanjski varčevalni shemi, če znesek, privarčevan letno, ne presega petdeset tisoč eurov (50 000 EUR). |
| --- | --- |

—

Varčevalni račun po nacionalni stanovanjski varčevalni shemi, če znesek, privarčevan letno, ne presega petdeset tisoč eurov (50 000 EUR).

| — | Račun rezervnega sklada po Stvarnopravnem zakoniku in Stanovanjskem zakonu, ki se vodi v Sloveniji. |
| --- | --- |

—

Račun rezervnega sklada po Stvarnopravnem zakoniku in Stanovanjskem zakonu, ki se vodi v Sloveniji.

Slovakia

| — | Osobný dôchodkový účet sporiteľa starobného dôchodkového sporenia (2. pilier). |
| --- | --- |

—

Osobný dôchodkový účet sporiteľa starobného dôchodkového sporenia (2. pilier).

| — | Osobný účet účastníka a poberateľa dávky doplnkového dôchodkového sporenia (3. pilier). |
| --- | --- |

—

Osobný účet účastníka a poberateľa dávky doplnkového dôchodkového sporenia (3. pilier).

| — | Účet vedený v prospech vlastníkov bytov a nebytových priestorov v zastúpení SVB/správcu |
| --- | --- |

—

Účet vedený v prospech vlastníkov bytov a nebytových priestorov v zastúpení SVB/správcu

Finland

No account to be treated as Excluded Account.

Sweden

| — | Pensionssparkonto som uppfyller kraven i inkomstskattelagen (1999:1229) och som tecknas och förvaltas i Sverige. |
| --- | --- |

—

Pensionssparkonto som uppfyller kraven i inkomstskattelagen (1999:1229) och som tecknas och förvaltas i Sverige.

| — | Privat pensionsförsäkring som uppfyller kraven i inkomstskattelagen (1999:1229). |
| --- | --- |

—

Privat pensionsförsäkring som uppfyller kraven i inkomstskattelagen (1999:1229).

United Kingdom

| — | Pension schemes registered with HMRC under Part 4 of Finance Act 2004. |
| --- | --- |

—

Pension schemes registered with HMRC under Part 4 of Finance Act 2004.

| — | Non-registered pension arrangements where the annual contributions are limited to £50 000 and funds contributed cannot be accessed before the age of 55 except in circumstances of serious ill health. |
| --- | --- |

—

Non-registered pension arrangements where the annual contributions are limited to £50 000 and funds contributed cannot be accessed before the age of 55 except in circumstances of serious ill health.

| — | Immediate needs annuities within section 725 Income Tax (Trading and Other Income) Act 2005. |
| --- | --- |

—

Immediate needs annuities within section 725 Income Tax (Trading and Other Income) Act 2005.

| — | An account within the meaning of the Individual Savings Account Regulations 1998. |
| --- | --- |

—

An account within the meaning of the Individual Savings Account Regulations 1998.

| — | Premium Bonds issued by the UK National Savings and Investments. |
| --- | --- |

—

Premium Bonds issued by the UK National Savings and Investments.

| — | Fixed Interest Savings Certificates issued by UK National Savings and Investments. |
| --- | --- |

—

Fixed Interest Savings Certificates issued by UK National Savings and Investments.

| — | Index Linked Savings Certificates issued by UK National Savings and Investments. |
| --- | --- |

—

Index Linked Savings Certificates issued by UK National Savings and Investments.

| — | A CSOP (Company Share Option Plans) scheme approved by HMRC under Schedule 4 to Income Tax (Earnings and Pensions) Act 2003. |
| --- | --- |

—

A CSOP (Company Share Option Plans) scheme approved by HMRC under Schedule 4 to Income Tax (Earnings and Pensions) Act 2003.

| — | A dormant account (other than an annuity contract) with a balance that does not exceed US$1 000 . Treatment as an excluded account is subject to election by the Financial Institution. An account is a dormant account if:






  (a) | the account holder has not initiated a transaction with regard to the account or any other account held by the account holder with the reporting financial institution in the previous three years, |
| --- | --- | --- |

—

A dormant account (other than an annuity contract) with a balance that does not exceed US$1 000 . Treatment as an excluded account is subject to election by the Financial Institution. An account is a dormant account if:

(a)

the account holder has not initiated a transaction with regard to the account or any other account held by the account holder with the reporting financial institution in the previous three years,

| (b) | the account holder has not communicated with the reporting financial institution regarding the account or any other account held by the account holder with the reporting financial institution in the previous six years, |
| --- | --- |

(b)

the account holder has not communicated with the reporting financial institution regarding the account or any other account held by the account holder with the reporting financial institution in the previous six years,

| (c) | the account is treated as a dormant account under the reporting financial institutions normal operating procedures, and |
| --- | --- |

(c)

the account is treated as a dormant account under the reporting financial institutions normal operating procedures, and

| (d) | in the case of a cash value insurance contract, the reporting financial institution has not communicated with the account holder regarding the account or any other account held by the account holder with the reporting financial institution in the previous six years. |
| --- | --- |

(d)

in the case of a cash value insurance contract, the reporting financial institution has not communicated with the account holder regarding the account or any other account held by the account holder with the reporting financial institution in the previous six years.

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NOTICES CONCERNING THE EUROPEAN ECONOMIC AREA

EFTA Surveillance Authority

| 4.5.2017 | EN | Official Journal of the European Union | C 139/30 |
| --- | --- | --- | --- |

4.5.2017

EN

Official Journal of the European Union

C 139/30

---

EFTA Surveillance Authority notice on state aid recovery interest rates and reference/discount rates for the EFTA States applicable as from 1 January 2017

(Published in accordance with the rules on reference and discount rates set out in Part VII of the Authority’s State Aid Guidelines and Article 10 of the Authority’s Decision No 195/04/COL of 14 July 2004 (1))

(2017/C 139/07)

Base rates are calculated in accordance with the Chapter on the method for setting reference and discount rates of the Authority’s State Aid Guidelines as amended by the Authority’s Decision No 788/08/COL of 17 December 2008. To obtain the applicable reference rates, appropriate margins shall be added to the base rate in accordance with the State Aid Guidelines.

Base rates have been determined as follows:

| | Iceland | Liechtenstein | Norway |
| --- | --- | --- | --- |
| 1.1.2017 – | 6,18 | -0,50 | 1,29 |

Iceland

Liechtenstein

Norway

1.1.2017 –

6,18

-0,50

1,29

---

(1)  OJ L 139, 25.5.2006, p. 37 and EEA Supplement No 26, 25.5.2006, p. 1.

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V Announcements

PROCEDURES RELATING TO THE IMPLEMENTATION OF COMPETITION POLICY

European Commission

| 4.5.2017 | EN | Official Journal of the European Union | C 139/31 |
| --- | --- | --- | --- |

4.5.2017

EN

Official Journal of the European Union

C 139/31

---

Prior notification of a concentration

(Case M.8399 — CWS-boco/Rentokil Initial Target Businesses)

(Text with EEA relevance)

(2017/C 139/08)

| 1. | On 26 April 2017, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking CWS-boco International GmbH (‘CWS-boco’, Germany), a wholly owned subsidiary of Franz Haniel & Cie. GmbH (‘Haniel’, Germany), acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the textile, washroom, cleanroom and dust mats businesses of Rentokil Initial plc, (‘Rentokil Initial’, United Kingdom) in a number of EU Member States (‘Rentokil Initial’s Target businesses’) by way of a purchase of shares. |
| --- | --- |

1.

On 26 April 2017, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking CWS-boco International GmbH (‘CWS-boco’, Germany), a wholly owned subsidiary of Franz Haniel & Cie. GmbH (‘Haniel’, Germany), acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the textile, washroom, cleanroom and dust mats businesses of Rentokil Initial plc, (‘Rentokil Initial’, United Kingdom) in a number of EU Member States (‘Rentokil Initial’s Target businesses’) by way of a purchase of shares.

| 2. | The business activities of the undertakings concerned are:
  —   for CWS-boco: provision of textile, cleanroom, washroom and dust mats services, mainly in the EU. Haniel is a diversified German holding company.
  —   for Rentokil Initial’s Target businesses: provision of textile, cleanroom, washroom and dust mats services in Austria, Belgium, Czech Republic, Germany, Luxembourg, Netherlands, Poland, Slovakia, Sweden and Switzerland. |
| --- | --- |

2.

The business activities of the undertakings concerned are:

—   for CWS-boco: provision of textile, cleanroom, washroom and dust mats services, mainly in the EU. Haniel is a diversified German holding company.

—   for Rentokil Initial’s Target businesses: provision of textile, cleanroom, washroom and dust mats services in Austria, Belgium, Czech Republic, Germany, Luxembourg, Netherlands, Poland, Slovakia, Sweden and Switzerland.

| 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. |
| --- | --- |

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.

| 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.8399 — CWS-boco/Rentokil Initial Target Businesses, 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.8399 — CWS-boco/Rentokil Initial Target Businesses, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

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

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