Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG CO MP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 15.4.2019  
C(2019 ) 3045 final  
 
 
To the notifying parties  
Subject : Case M. 9308 - ANSALDO / REPH / JV  
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 22 March 2019 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  the companies 
Ansaldo Energia S.p.A. (“Ansaldo”, Italy) and group companies, controlled by Shanghai 
Electric (“SEC”, China) and Cassa Deposseti e Prestiti (“CDP”, Italy), and JSC REP 
Holding (“REPH”, the Russia n Federation ) and group companies, belonging to the group 
Gazprombank (“REPH Group”, the Russian Federation), acquire within the meaning of 
Article 3(1)(b) and 3(4) of the Merger Regulation  joint control of REPH Ansaldo Gas 
Turbine LLC (“REPH Ansaldo Gas Turbine JV”, the Russian Federation) by way of 
purchase of sh ares in a newly created company constituting a joint venture.3 
2. The business activities of the undertakings concerned are:  
– Ansaldo is active internationally in the sector for power generation systems and 
components which supplies turbines, generators, turnkey power plants as well as 
engineering se rvices for nuclear power plants , 
– REPH design s, manufactur es and supplie s power and electrical equipment for oil 
& gas, metallurgical and chemical industries, power genera tion and distribution 
facilities , 
                                                 
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 
througho ut 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 117, 29.3.2019 , p. 8. 
PUBLIC VERSION  
2 – The REPH Ansaldo Gas Turbine  JV will be active in the manufacturing, 
localisation  and marketing  of gas and steam turbines  and the design, marketing 
and op eration of turnkey power plants, among other activities; it  will be primarily 
active in the Russian Fe deration and the Commonwealth Independent States . 
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 s implified 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 application of 
Article 6(1)(b) of the Merger  Regulation  and Article 57 of the EEA Agre ement . 
For the Commission  
 
 
(Signed)  
Johannes LAITENBERGER  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .