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,  29.5.2019  
C(2019)  4186 final  
PUBLIC VERSION  
To the notifying part ies 
Subject : Case M. 9321 – MRG/PMV/SFPI -FPIM/Euroports  
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 17 April 2019,  the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which Monaco Resources 
Group (‘MRG’, Monaco), Participatie Maatschappij Vlaanderen (‘PMV’, Belgium) and 
Société fédérale de par ticipations et d’investissement -  Federale participatie - en 
investeringsmaatschappij (‘SFPI -FPIM’, Belgium), acquir e within the meaning of Article 
3(1)(b) of the Merger Regulation joint control of the whole of Euroports Holdings S.à r.l. 
(‘Euroports’, Luxembourg). The concentration is accomplished by way of purchase of 
shares .3 
2. The business activities of the undertakings concerned are:  
- for MRG : international an d diversified natural resources group active in metals and 
minerals, agribusiness, energy, logistics and technology as well as finance and 
investments,  
- for PMV : investment company fully owned by the Flemish region and mainly active in 
financing for entrepr eneurs, start -ups and growth companies as well as infrastructure, 
real estate and energy investments,  
- for SFPI -FPIM : investment company fully owned by the Belgian State investing in 
public and private enterprises of strategic interest to the Belgian State,  
- for Euroports : provides  terminal operations, freight forwarding and value -added 
services such as processing, customisation, bagging or packaging.  
                                                 
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 146, 26.04.2019 , p. 11. 

2 3. After examination of the notification, the European Commission has concluded that the 
notified operation fall s 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 applicat ion 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.