Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG CO MP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 26.04.2019  
C(2019 ) 3311  final 
 
 
To the notifying parties:  
 
Subject : Case M.9271 – 3i Group/TIIC Management/Aberdeen 
Infrastructure/DirectRoute (Fermoy)  
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 29 March 2019 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  3i Group plc  (“3i”, 
United Kingdom), TIIC Management S.à.r.l. (“TIIC Management”, Luxembourg)  and 
Aberdeen Infrastructure Partners LP Inc ( “AIPLP” , Guernsey) acquire within the meaning 
of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of  
DirectRoute (Fermoy) Holdings Limited (“Fermoy HoldCo”, Ireland), which in turn has 
sole control over DirectRoute (Fermoy) Limi ted (“FermoyCo”, Ireland) , by way of 
purchase of shares .3 
2. The business activities of the undertakings concerned are:  
 – for 3i:  international investment company with two complementary businesses, 
Private Equity and Infrastructure, specialising in core investment markets in 
northern Europe and North America , 
 – for TIIC Management: a pan-European infrastructure firm  investing into mid -
market infrastructure projects across Europe  in both the transportation and social 
sectors , 
                                                 
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 126, 5.4.2019 , p. 5. 
 
PUBLIC VERSION  
2  – for AIPLP : investment port folio consisting of Private Finance Initiative and 
Public Private Partnerships (PPP) assets,  
 – for Fermoy HoldCo: parent company of FermoyCo,  which is active in the 
operation and maintenance of the M8 Rathcormac/Fermoy Bypass in Ireland for 
30 years purs uant to a concession contract awarded in 2004.  
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 simp lified 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 Agre ement . 
For the Commission  
 
 
(Signed)  
Johannes LAITENBERGER  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .