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, 6.12.2021  
C(2021) 9110 final  
PUBLIC VERSION 
Cogenio S.R.L. Viale Di Tor Di Quinto, 45/47  
00191 – Rome  
Italy 
 Avio S.p.A  
Via Leonoda Bissolati, 76  
00187 – Rome  
Italy 
Subject : Case M. 10558 – COGENIO  / AVIO / TERMICA COLLEFERRO  
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 12 November 2021, the  European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the 
undertakings Cogenio S.r.l. (“Cogenio”, Italy), belonging to the M&G group, and 
Avio  S.p.A. (“Avio”, Italy) acquire within the meaning of Article s 3(1)(b) and 3(4) of 
the Merger Regulation joint control over the whole of the undertaking Termica 
Colleferro S.p.A. (“Termica Colleferro”, Italy) by way of purchase of shares .3 
2. The business activities of the undertakings concerned are:  
− Cogenio operates in the field of plant engineering and services related to the 
production, distribution and use of electrical energy, heating, steam and cooling 
systems and energy efficienc y systems. It develops energy  efficiency projects for 
Italian commercial an d industrial groups, through cogeneration, trigeneration, 
photovoltaic and energy storage projects, 
                                                 
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 ‘ Communi ty’ 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 467, 19.11.2021, p. 8.  

2 − Avio is  active in the aerospace industries. It develops and sells launching systems 
and tactic missiles and is active in the research and development of new  materials 
and equipment for space applications, 
− Termica Colleferro is active in the energy sector, namely in the electricity and 
thermic energy production. It holds and operates a cogeneration plant  in Italy. 
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) and 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 Agreement . 
 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5.