Prior notification of a concentration (Case M.11568 – VTTI / SNAM / ALNG)
Date: 2024-10-09
Institutions: Directorate-General for Competition, European Commission
Subjects: Adriatic Sea, Italy, Veneto, economic concentration, energy distribution, energy industry, energy storage, energy transport, merger control, natural gas








C_202406124EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/6124


9.10.2024






Prior notification of a concentration
(Case M.11568 – VTTI / SNAM / ALNG)
(Text with EEA relevance)
(C/2024/6124)


1.   
On 27 September 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:






—


VTTI B.V. (‘VTTI’, Netherlands). VTTI is jointly controlled by Vitol Holding II S.A. (‘Vitol’, Netherlands) and IFM Investors Pty Ltd, in its capacity as advisor to the IFM Global Infrastructure Fund, (‘IFM’, Australia),










—


Snam S.p.A. (‘Snam’, Italy),










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Terminale GNL Adriatico S.r.l. (‘ALNG’, Italy).




VTTI and Snam will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of ALNG.
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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VTTI owns, manages, operates and develops energy infrastructure assets worldwide, in particular of energy storage terminals for petrochemical and vegoil products at ports and harbours. Vitol's primary business is in trading and distribution of energy products globally (including oil, gas and power), and IFM is a global investment manager, with assets under management across infrastructure, listed equities, private capital and debt investments,










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Snam is the operator of the main gas transmission system operator in Italy, and is also active in gas transmission, regasification and energy storage in various countries, and










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ALNG provides liquified natural gas (‘LNG’) regasification services (including loading, storage, flexibility, measurement and marine services) at the LNG regasification terminal located in the Adriatic Sea in the province of Rovigo.






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.



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.11568 – VTTI / SNAM / ALNG
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’).


ELI: http://data.europa.eu/eli/C/2024/6124/oj
ISSN 1977-091X (electronic edition)