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, 21.12.2020  
C(2020 ) 9563 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M.  10058 – PORSCHE / TRANSNET / 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 27 November 2020 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which Dr. Ing. h.c. F. 
Porsche Aktiengesellschaft  (" Porsche ", Germany), through its subsidiary MHP , and 
TransnetBW GmbH (" Transnet", Germany ), acquire within the meaning of Articles 
3(1)(b) and 3(4) of the Merger Regulation joint control over a yet to be, i.e. newly 
established , joint venture company ("JVC"),  by way of purchase of shares .3 
2. The business activities of the undertakings concerned are:  
 for Porsche: a wholly owned, indirectly controlled, subsidiary of Volkswagen 
Aktiengesellschaft (“VWAG”), active worldwide in the dev elopment, 
manufacture, marketing and sale of passenger cars, light commercial vehicles, 
trucks, buses, coaches, chassis for buses and diesel engines, motor bikes, each 
including spare parts, and accessories. The VW Group also engages in vehicle 
distributio n.  
 for Transnet: transmission system operator with its headquarter in Stuttgart, 
Germany. Transnet operates a large part of the transmission system in Baden -
Wuertemberg. Transnet is a wholly owned subsidiary of EnBW Energie 
Baden -Württemberg AG (“EnBW”), an integrated energy supply company 
based in Germany.  
                                                 
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 419, 04.12.2020 , p. 44. 

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 s 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 no tified 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 .