Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG  COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 6.12.2022  
C(2022 ) 9248 final   
PUBLIC  VERSION  
Siemens Energy AG  
Otto-Hahn -Ring 6  
81739 Munich  
Germany  
 
Shanghai Electric Group Company, 
Ltd.  
No.110, Sichuanzhong Road  
200336, Huangpu District, Shanghai  
People’s Republic of China   
Subject : Case M. 10580 - SE AG / SEC / SEPG  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on  the European 
Economic Area2  
Dear Sir or Madam,  
1. On 14 November  2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger Regulation , by which Siemens 
Energy AG (‘SE AG’, Germany) and Shanghai Elect ric Group Company Limited 
(‘SEC’, People’s Republic of China)  will acquire within the meaning of Article 
3(1)(b)  and 3(4)  of the Merger Regulation joint control of Shanghai Electric Power 
Generation Equipment Co. Ltd  (‘SEPG’, People’s Republic of China ) by way of 
purchase of shares .3 
2. The business activities of the undertakings concerned  are the following : 
 SE AG is the ultimate controlling parent of Siemens Energy Group, which 
develops, manufactures and supplies products, solutions and services across the 
energy value chain including generation, transmission, and storage, as well as 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect  from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 440, 21.11.2022 , p. 22. 

2 industrial applications, comprising a broad portfolio from conventional to 
renewables , 
 SEC is active  in large energy and industrial equipment manufacturing and 
integration servi ces, including thermal generator sets, nuclear power units, wind 
power equipment, power T&D equipment, environmental protection equipment, 
automation equipment, elevators, rail transit and industrial internet of things 
solutions,  
 SEPG is a joint venture ac tive in power generation equipment  manufacturing, 
producing mainly large steam turbines for nuclear and fossil/coal -fired power 
plants in China.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (a) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in applicat ion of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
   
       
                                                 
4  OJ C 366, 14.12.2013, p. 5 .