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 -MERG ER-REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 4.3.2020  
C(2020 ) 1508 final  
PUBLIC VERSION  
To the notifying party  
Subject : Case M.9703  – SCP / REAL  
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 4 February  2020 , the European Commission received notification of a proposed 
conc entration pursuant to Article 4 of the Merger  Regulation by which the 
undertaking  SCP Group S.à.r.l. (‘SCP Group’, Luxembourg), controlled by: (i) joint 
stock financial corporation Sistema (Russia), ultimately controlled by Mr. Vladimir 
Evtushenkov and (ii) Mr. Felix Evtushenkov (Russia),  acquire s within the meaning of 
Article 3(1)(b)  of th e Merger Regulation sole control over the whole of the ‘real’  
business (‘ real Group’ , Germany), currently owned  by METRO AG (Germany) , by 
way of purchase of share s and asset s.3 
2. The business activities of the undertakings concerned are:  
 for SCP Group: real estate -based in vestments and advisory services ; 
 for the real Group : food and non -food retail supply by means of 276 
hypermarkets in Germany and an online marketplace, as well as meat ‐
processing (‘Meister feines Fleisch - feine Wurst GmbH’) and digital paym ent 
services.  
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 
                                                 
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 48, 12.2.2020 , p. 23. 

2 paragraph 5 (c) 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 application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agre ement .  
5. For the avoidance of doubt, this decision only pertains to the notified operation 
whereby SCP Group acquires real Group , as a standalone concentration, without 
prejudice to the assessment of any subsequent operations involving the real Group  or 
parts thereof, under the Merger Regulation or the applicable law of any EEA Member 
States.   
For the Commission  
 
 
(Signed)  
Olivier  GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .