# C_2022167EN.01003401.xml

| 21.4.2022 | EN | Official Journal of the European Union | C 167/34 |
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21.4.2022

EN

Official Journal of the European Union

C 167/34

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Prior notification of a concentration

(Case M.10571 – HSBC SINGAPORE / TEMASEK / JV)

Candidate case for simplified procedure

(Text with EEA relevance)

(2022/C 167/08)

1.

This notification concerns the following undertakings:

| — | HSBC Bank (Singapore) Limited (‘HSBC Singapore’, Singapore), wholly owned by HSBC Holdings plc (‘HSBC’, United Kingdom), |
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HSBC Bank (Singapore) Limited (‘HSBC Singapore’, Singapore), wholly owned by HSBC Holdings plc (‘HSBC’, United Kingdom),

| — | Kovan Investments Pte. Ltd. (‘Kovan’, Singapore), wholly owned by Temasek Holdings (Private) Limited (‘Temasek’, Singapore), |
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Kovan Investments Pte. Ltd. (‘Kovan’, Singapore), wholly owned by Temasek Holdings (Private) Limited (‘Temasek’, Singapore),

| — | Sustainable Infrastructure Capital PTE. LTD (‘Joint Venture’, Singapore). |
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Sustainable Infrastructure Capital PTE. LTD (‘Joint Venture’, Singapore).

HSBC Singapore and Kovan will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the full-function Joint Venture.

The concentration is accomplished by way of purchase of shares in a newly created company constituting a joint venture.

2.

| — | HSBC is a banking and financial services company headquartered in London, United Kingdom. HSBC is split into 3 primary lines of business: Wealth and Personal Banking (WPB); Commercial Banking (CMB) and Global Banking and Markets (GBM). Both CMB and GBM offer corporate banking services to corporate and institutional clients of varying sizes. |
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HSBC is a banking and financial services company headquartered in London, United Kingdom. HSBC is split into 3 primary lines of business: Wealth and Personal Banking (WPB); Commercial Banking (CMB) and Global Banking and Markets (GBM). Both CMB and GBM offer corporate banking services to corporate and institutional clients of varying sizes.

| — | Temasek is an investment company headquartered in Singapore, mainly active in Singapore and the rest of Asia. Temasek’s global portfolio covers a broad spectrum of industries: financial services; telecommunications, media and technology; transportation and industrials; consumer and real estate; as well as life sciences and agri-food. |
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Temasek is an investment company headquartered in Singapore, mainly active in Singapore and the rest of Asia. Temasek’s global portfolio covers a broad spectrum of industries: financial services; telecommunications, media and technology; transportation and industrials; consumer and real estate; as well as life sciences and agri-food.

| — | The Joint Venture is a greenfield full-function joint venture to be set up in Singapore which will provide debt financing for sustainable infrastructure projects in sectors such as renewable energy, energy storage, water and waste (wastewater and solid waste management) and sustainable transport in Asia, with an initial focus on Southeast Asia. |
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The Joint Venture is a greenfield full-function joint venture to be set up in Singapore which will provide debt financing for sustainable infrastructure projects in sectors such as renewable energy, energy storage, water and waste (wastewater and solid waste management) and sustainable transport in Asia, with an initial focus on Southeast Asia.

3.

Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

4.

Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.10571 – HSBC SINGAPORE / TEMASEK / JV

Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Fax +32 22964301

Postal address:

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

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

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