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, 4.12.2018  
C(2018 ) 8417 final  
 
 
 
 
 
To the notifying parties  
 
 
Subject : Case M. 9171 - COVANTA HOLDING CORPORATION / GREEN 
INVESTMENT GROUP / BROCKWELL ENERGY / EARLS GATE 
ENERGY CENTRE  
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 9 November 2018 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the undertakings 
Covanta Holding Corporation ("Covanta", United States of America) , Green Investment 
Group Limited ("Green Investment Group ", United Kingdom)3 and Brockwell Energy 
Limited ("Brockwell", United Kingdom)4 acquire within the meaning of Article 3(1)(b) 
and 3(4) of the Merger Regulation joint control over the whole of the undertaking Earls 
Gate Energy Centre Limited  ("Earls Gate JV ", United Kingdom)  by way of purchase of 
shares .5 
2. The business activities of the undertakings concerned are:  
 for Covanta : global sustainable waste  and energy solutions business,  
 for Green Investment Group : green infrastructure principal investment, project  
delivery and management of portfolio assets , and related services,  
 for Brockwell : develop, own and operate interests in relation to renewable energy 
technologies , 
                                                 
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  Green Inves tment Group belongs to Macquarie Group Limited (Australia).  
4  Brockwell is jointly controlled by Davidson Kempner Capital Management, L.P. (United States of America) 
and Pioneer Point Partners LLP (United Kingdom).  
5  Publication in the Official Journal o f the European Union No C 417, 16.11.2018 , p.31. 
PUBLIC VERSION  
2  for Earls Gate JV : construction and operation of a renewable energy plant in 
Grangemouth, Sc otland . 
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 pa ragraph 5 (c) of 
the Commission Notice on a simplified procedure for treatment of certa in concentrations 
under Council Regulation (EC) No 139/2004 .6 
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  
                                                 
6  OJ C 366, 14.12.2013, p. 5 .