Prior notification of a concentration (Case M.11925 - ALAT / TKE / KSA JV) – Candidate case for simplified procedure
Date: 2025-03-07
Institutions: Directorate-General for Competition, European Commission
Subjects: Arab world, Saudi Arabia, economic concentration, hoisting equipment, investment company, lift, merger control








C_202501563EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2025/1563


7.3.2025






Prior notification of a concentration
(Case M.11925 - ALAT / TKE / KSA JV)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2025/1563)


1.   
On 25 February 2025, 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:






—


Alat Technologies Company (‘Alat’, Saudi Arabia), controlled by Public Investment Fund (‘PIF’, Saudi Arabia)










—


TK Elevator Ibérica Holding S.L.U., (‘TKE’, Spain), belonging to TK Elevator Topco GmbH (‘The TKE Group’, Germany), jointly controlled by Advent International, L.P. (‘Advent’, United States) and Cinven VII GPCo (‘Cinven’, Guernsey)










—


TK Elevator ALAT Holding Ltd. (‘KSA JV’, Saudi Arabia)




Alat and TKE will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of KSA JV.
The concentration is accomplished by way of purchase of shares in a newly created company constituting a joint venture.


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






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Alat is entrusted with Saudi Arabia’s industrial transformation, aiming to make the country a global hub for electronics and advanced industrials.










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The TKE Group is active globally in the installation and servicing of elevators, escalators, moving walks, passenger boarding bridges, and stairlifts, as well as related products and ancillary activities.










—


KSA JV will be primarily active in Saudi Arabia, as well as potentially in some other countries of the MENA region. The KSA JV will be active in the manufacture, supply, installation, and maintenance of vertical and horizontal transportation units (elevators, escalators, etc.).






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 concentration 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.11925 - ALAT / TKE / KSA JV
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/2025/1563/oj
ISSN 1977-091X (electronic edition)