Prior notification of a concentration (Case M.11003 – DTC / IRCP / DIAMOND TRANSMISSION PARTNERS / OFTO BUSINESS) Candidate case for simplified procedure (Text with EEA relevance) 2023/C 72/10
Date: 2023-02-28
Institutions: Directorate-General for Competition, European Commission
Subjects: consultancy, economic concentration, electrical energy, electricity supply, energy grid, holding company, investment company, merger control, offshore wind energy production, transmission network








C_2023072EN.01005001.xml










28.2.2023   


EN


Official Journal of the European Union


C 72/50






Prior notification of a concentration
(Case M.11003 – DTC / IRCP / DIAMOND TRANSMISSION PARTNERS / OFTO BUSINESS)
Candidate case for simplified procedure
(Text with EEA relevance)
(2023/C 72/10)

1.   
On 20 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:






—


Diamond Transmission UK Limited (‘DTUK’, United Kingdom), controlled by Diamond Transmission Corporation Limited (‘DTC’, United Kingdom), which is controlled by Mitsubishi Corporation (‘MC’, Japan),










—


InfraRed Capital Partners Limited (‘IRCP’, United Kingdom), controlled by Sun Life Financial Inc. (‘Sun Life’, Canada),










—


the transmission network for the Hornsea Two offshore windfarm located off the coast of Yorkshire in the North Sea in the United Kingdom (the ‘OFTO Business’, United Kingdom).




DTUK and IRCP will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole OFTO Business.
The concentration is accomplished by way of purchase of assets.


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






—


DTUK is a holding company controlled by DTC. DTC is a holding company that integrates MC’s investment activities in the electricity transmission sector. MC is a global trading company with activities related to energy, metals, machinery, chemicals, food and general merchandise,










—


IRCP is an infrastructure investment management company active in financial advice and managing investments on behalf of investment funds, controlled by Sun Life. Sun Life is a financial services company providing insurance, wealth and asset management solutions,










—


The OFTO Business is the electricity transmission network for the Hornsea Two offshore windfarm located off the coast of Yorkshire in the North Sea in the United Kingdom.






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.11003 – DTC / IRCP / DIAMOND TRANSMISSION PARTNERS / OFTO BUSINESS
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.