Prior notification of a concentration (Case M.11040 – PGGM / DIF / EQT / SAUR) Candidate case for simplified procedure (Text with EEA relevance) 2023/C 70/07
Date: 2023-02-27
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, investment company, merger control, waste management, water management, water supply








C_2023070EN.01001001.xml










27.2.2023   


EN


Official Journal of the European Union


C 70/10






Prior notification of a concentration
(Case M.11040 – PGGM / DIF / EQT / SAUR)
Candidate case for simplified procedure
(Text with EEA relevance)
(2023/C 70/07)

1.   
On 16 February 2023, 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:






—


PGGM Vermogensbeheer B.V. (‘PGGM’, Netherlands),










—


DIF Management B.V. (‘DIF’, Netherlands),










—


EQT Fund Management S.à r.l. (‘EFMS’, Luxembourg),










—


Saur S.A.S. and its subsidiaries (‘Saur Group’, France).




PGGM, DIF and EQT will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Saur Group.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


PGGM manages the pensions for different pension funds, the affiliated employers and their employees,










—


DIF is a fund management company with focus on infrastructure investments in the energy (transition), renewable energy generation and other economic infrastructure sectors in Europe, North America and Australia,










—


EFMS is an investment fund manager, of EQT Infrastructure III and EQT Infrastructure IV, two private investment funds forming part of the EQT group of investment funds,










—


Saur Group is mainly active in water and wastewater management, primarily in France, and also designs and constructs water infrastructure as well as water treatment systems for industries.






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 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.11040 – PGGM / DIF / EQT / SAUR
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
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.