Prior notification of a concentration (Case M.11453 – COMMERZBANK IMMOBILIEN / ACH / ACI) – Candidate case for simplified procedure
Date: 2024-04-09
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, energy production, financial services, investment company, merger control, renewable energy, solar energy, wind energy








C_202402563EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/2563


9.4.2024






Prior notification of a concentration
(Case M.11453 – COMMERZBANK IMMOBILIEN / ACH / ACI)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/2563)


1.   
On 2 April 2024, 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:






—


Commerzbank Immobilien- und Vermögensverwaltungsgesellschaft mbH (‘Commerzbank Immobilien’, Germany), controlled by Commerzbank AG (Germany),










—


Aquila Capital Holding GmbH (‘ACH’, Germany), which is jointly controlled by Aquila Holding GmbH (Germany) and by Daiwa Securities Group Inc. (Japan),










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Aquila Capital Investmentgesellschaft mbH (‘ACI’, Germany).




Commerzbank Immobilien and ACH will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of ACI.
The concentration is accomplished by way of purchase of shares.


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






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Commerzbank Immobilien is active in the management and sale of assets of all kinds, both in its own name and for its own account and in the name and for the account of third parties,










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ACH manages the business units of the Aquila Group, including development of clean energy assets (PV, wind, batteries, etc.) in Europe and in Asia-Pacific, a data centre business, and the Target, ACI,










—


ACI is a capital management company for Alternative Investments Funds and UCITS which offers tailor-made fund vehicles and investment solutions according to individual needs of investors. ACI's range of services includes, inter alia, portfolio management, risk management, asset management, structuring, valuation and reporting services with a focus on clean energy and sustainable infrastructure.






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 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.


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.11453 – COMMERZBANK IMMOBILIEN / ACH / ACI
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/2024/2563/oj
ISSN 1977-091X (electronic edition)