Prior notification of a concentration (Case M.11293 – MERIDIAM / MGETS FUND / VERKOR) – Candidate case for simplified procedure
Date: 2023-11-29
Institutions: Directorate-General for Competition, European Commission
Subjects: France, economic concentration, electricity storage device, holding company, investment, investment company, merger control, service, urban infrastructure








C_202301268EN.000101.fmx.xml












Official Journal of the European Union


EN
Series C













C/2023/1268


29.11.2023






Prior notification of a concentration
(Case M.11293 – MERIDIAM / MGETS FUND / VERKOR)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2023/1268)


1.   
On 20 November 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:






—


Meridiam S.A.S. (‘Meridiam’, France),










—


Macquarie Group Limited (‘Macquarie’, Australia),










—


Verkor S.A.S. (‘Verkor’, France).




Meridiam and Macquarie will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Verkor.
The concentration is accomplished by way of purchase of shares.


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






—


Meridiam is an alternative investment fund manager specialising in long-term investments in public and community infrastructure worldwide and across almost all EU Member States,










—


Macquarie provides asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities worldwide and across most EEA Member States. Macquarie will jointly control Verkor through Macquarie GIG Energy Transition Solutions Holdings SCSp, a fund controlled by Macquarie pursuing equity and equity-like investment opportunities in decarbonization assets and technologies.






3.   
The business activities of the undertaking Verkor are the following:
Verkor develops battery cells and modules for electric vehicles, based on lithium-ion technology and is in the process of building a factory in Dunkerque (France) for the manufacturing of battery cells and modules for electric vehicles, and, to a minor extent, for other industrial non-automotive applications. Verkor will be active in the EEA and more particularly in France.


4.   
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 treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


5.   
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.11293 – MERIDIAM / MGETS FUND / VERKOR
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 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2023/1268/oj
ISSN 1977-091X (electronic edition)