Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commis sie, 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, 14.08.2019  
C(2019 ) 6152 final   
PUBLIC VERSION  
To the notifying party  
Subject : Case M. 9397 – MIROVA / GE / DESARROLLO EOLICO LAS MAJAS  
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 23 July 2019 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the 
undertakings Mirova, acting as management company of Mirova -Eurofideme 3 
(France), ultimately owned by Banque Populaire Caisse d'épargne ("BPCE", France),  
and General Electric Company ("GE", United States),  acquire  within the meaning of 
Article 3(1)(b ) of the Merger Regulation  joint control of Desarrollo Eólico Las Majas 
XIX, S.L.U.  (Spain), controlled by the Forestalia group, by way of purchase of 
shares.3 
2. The business activities of the undertakings concerned are:  
 Mirova is a French venture capital fund which focuses on responsible investment 
managing funds for institutional investors in various asset classes, inter alia 
renewable energy and core infrastructures, sustainable equities and green bonds,  
 GE is a global manufacturing, technology and services company. The core 
activity of its business unit GE Energy Financial Services is investment in the 
energy sector. Its business unit GE Renewable Energy supplies products and 
services to wind, hydro and solar power generation customers, including 
manufacturing and servicing o f wind turbines , 
 Desarrollo Eólico Las Majas XIX  is a holding company, which will own three  
windfarm projects in Aragon, Spain . 
                                                 
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 257, 31.7.2019 , p. 15. 

2 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(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)  
Johannes LAITENBERGER  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .