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, 26.07.2021  
C(2021 ) 5717 final  
PUBLIC VERSION  
Abu Dhabi Future Energy Company 
PJSC ( Masdar )  
P.O. Box 54115, Opposite Presidential 
Flight, Masdar City, Abu Dhabi, 
United Arab Emirates  
 
Taaleri Energia  OY 
Kasarmikatu 21 B,  
00130 Helsinki  
Finland  
 
KYOTO S.A.  
5 Pentelis Str.,  
175 64 Athens  
Greece  
 
Autohellas Tourist and Trading  S.A. 
31 Viltanioti Str.,  
145 64, Kifissia, Athens  
Greece  
Subject : Case M. 10330  ― Masdar /Taaleri/KYOTO/Autohellas/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 1 July  2021 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  the 
undertakings Abu Dhabi Futu re Energy Company PJSC (“Masdar , United Arab 
Emirates), ultimately wholly owned by Mubadala Investment Compa ny PJSC 
(“Mubadala”, United Arab Emirates) , Taaleri Energia Ltd. (“Taaleri Energia”, 
                                                 
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 Finland), part of the Taaleri Group (Finland), KYOTO S.A. (“KYOTO”, Greece), part 
of the Constantakopoulos Group (Greece) and Autohellas Tourist and Trading Soci été 
Anonym e (“Autohellas”, Greece), part of the Vassilakis Group (Greece) intend to 
acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation , joint 
control  over the Joint Venture  (Greece ), by way of purchase of shares.3 
2. The business activities  of the undertakings concerned are:  
— for Masdar: a renewable energy and sustainability company that advances 
solutions in energy, water, urban development and clean technologies in the UAE 
and around the world,  
— for Taaleri Energia: a wind and solar deve loper and fund manager investing 
in utility scale wind farms and solar plants,  
— for KYOTO: the development of real estate and energy projects,  
— for Autohellas: a company active in the market of car rental, import and 
trade,  
— for the Joint Venture: the d evelopment, financing, construction, operation 
and maintenance of the Asopia Solar Power Plant project on a long term and 
reliable basis.  
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 (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 notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in applicat ion 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 277, 12.7.2021, p. 4 . 
4  OJ C 366, 14.12.2013, p. 5 .