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, 7.4.2022  
C(2022 ) 2377 final  
PUBLIC VERSION  
Arjun Infrastructure Partners Limited  
50, Pall Mall,  
London, SW1Y 5JH   
United Kingdom  
 
Macquarie Asset Holdings Limited  
Ropem aker Place  
28 Ropemaker Street  
London, EC2Y 9HD  
United Kingdom  
 
Aberdeen Infrastructure (Holdco) IV 
B.V.  
Aberdeen Infrastructure (Holdco) IV -A 
B.V 
Zuidplein 166  
1077 XV Amsterdam  
Netherlands  
Subject : Case M.10678 - AIP / MACQUARIE / ABERDEEN / ONIVIA  
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 16 Machr 2022 , the European Commission received notification of a proposed 
concent ration pursuant to Article 4 of the Merger  Regulation by which  Arjun 
Infrastructure Partners Limited (‘AIP’, UK), belonging to the Arjun Infrastructure 
Partners Group , Macquarie Asset Holdings Limited (‘Macquarie’, UK), b elonging to 
the Macquarie Group and Aberdeen Infrastructure (Holdco) IV B.V. and Aberdeen 
Infrastructure (Holdco) IV -A B.V (together ‘Aberdeen’, UK), belonging to the 
Aberdeen Group,  will acquire within the meaning of Article 3(1)(b)  and 3(4)  of the 
                                                 
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 ’). 

2 Merger  Regulation joint  control over the whole of  Pentacom Investments (Spain) 
Opco S.L.U. and Ucles InfraCo, S.L. (together ‘Onivia’, Spain) by way of purchase of 
shares .3 
2. The business activities of the undertakings concerned  and the newly set -up joint 
venture   are the following : 
 for AIP : asset management company active in sectors including transport ation, 
renewable energy , integrated power utility and energy distribution,  
 for Macquarie: global investment bank and financial services provider covering 
resources and commodities, green energy, conventional energy, financial 
institutions,  infrastructure and real estate,  
 for Aberdeen: asset manager active in sectors including transportation, social 
infrastructure, waste and water treatment and clean energy production  networks , 
 for Onivia: wholesale supply of broadband access services in Spain . 
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(b) 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 noti fied 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  
 
                                                 
3  Publication in the Official Journal of the European Union No C 134, 25.03.2022 , p. 36. 
4  OJ C 366, 14.12.2013, p. 5 .