Prior notification of a concentration (Case M.11276 – SWISS LIFE / SGC / EAST LONDON ENERGY / EQUANS DE HOLDING COMPANY / IESL ASSETS / JV) Candidate case for simplified procedure (Text with EEA relevance) 2023/C 342/09
Date: 2023-09-28
Institutions: Directorate-General for Competition, European Commission
Subjects: United Kingdom, air conditioning, economic concentration, heating, insurance company, investment company, life assurance, merger control, provision of services, renewable energy








C_2023342EN.01001301.xml










28.9.2023   


EN


Official Journal of the European Union


C 342/13







Prior notification of a concentration
(Case M.11276 – SWISS LIFE / SGC / EAST LONDON ENERGY / EQUANS DE HOLDING COMPANY / IESL ASSETS / JV)
Candidate case for simplified procedure
(Text with EEA relevance)
(2023/C 342/09)


1.   
On 19 September 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:






—


Swiss Life Holding AG (‘Swiss Life’, Switzerland),










—


Schroders Greencoat LLP (‘SGC’, United Kingdom),










—


East London Energy Limited (‘East London Energy’, United Kingdom),










—


Equans DE Holding Company Limited (‘Equans DE’, United Kingdom),










—


Assets from Industrial Energy Services Limited (‘IESL Assets’, United Kingdom).




Swiss Life and SGC will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of East London Energy, Equans DE and the IESL Assets.
The concentration is accomplished by way of purchase of shares.


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






—


Swiss Life is active in the life insurance sector and the investment and asset management segment,










—


SGC is a specialist asset manager focused on the renewable energy infrastructure sector, including bioenergy, renewable heat, solar and wind,










—


East London Energy and Equans DE are end-to-end service providers in the district heating and cooling sector, focused on delivering low-carbon solutions, in various cities in the United Kingdom,










—


IESL Assets operates and maintains energy assets for Equans DE customers.






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.11276 – SWISS LIFE / SGC / EAST LONDON ENERGY / EQUANS DE HOLDING COMPANY / IESL ASSETS / JV
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: mailto: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 160, 5.5.2023, p. 1.