Prior notification of a concentration (Case M.8834 — Brookfield/Saeta) — Candidate case for simplified procedure (Text with EEA relevance. )
Date: 2018-03-13
Institutions: European Commission
Subjects: economic concentration, electrical energy, energy production, energy supply, merger control, private equity, real property, renewable energy, wholesale trade








C_2018095EN.01002601.xml










13.3.2018   


EN


Official Journal of the European Union


C 95/26





Prior notification of a concentration
(Case M.8834 — Brookfield/Saeta)
Candidate case for simplified procedure
(Text with EEA relevance)
(2018/C 95/13)






1.


On 6 March 2018, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


TERP Spanish HoldCo S.L. (‘TERP’, Spain) controlled by Brookfield Asset Management Inc. (‘Brookfield Group’, Canada),










—


Saeta Yield, S.A. (‘Saeta’, Spain), currently controlled by Cobra Concessiones S.L. (‘Cobra’, Spain), GIP II Helios, S.à.rl. (‘GIP’, Luxembourg), Mutuactivos S.A.U., S.G.I.I.C. (‘Mutuactivos’, Spain) and Sinergia Advisors 2006, A.V., S.A. (‘Sinergia’, Spain).




Brookfield Group acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of Saeta.
The concentration is accomplished by way of public bid announced on 7 February 2018.










2.


The business activities of the undertakings concerned are:
—   For Brookfield: global asset management group focused on investing in real estate, infrastructure, renewable power and private equity. Within its energy portfolio, the Brookfield Group operates a diversified portfolio of assets that generate electricity from renewable sources, which consist of hydroelectric and wind power facilities in North America, Colombia, Brazil, Uruguay and Europe,
—   For Saeta: active in the generation and wholesale supply of renewable energy. Its facilities comprise a number of wind farms and solar thermal plants in Spain. They also include wind portfolios in Portugal and Uruguay.










3.


On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.










4.


The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.8834 — Brookfield/Saeta
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:





E-mail:




COMP-MERGER-REGISTRY@ec.europa.eu




Fax




+32 22964301




Postal address:




European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË










(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.