Prior notification of a concentration (Case M.11970 – TPG / MAVCO / PJ / COBRA OPCO) – Candidate case for simplified procedure
Date: 2025-05-02
Institutions: Directorate-General for Competition, European Commission
Subjects: India, economic concentration, investment company, merger control, natural person, private sector, turbine, wind energy








C_202502607EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2025/2607


2.5.2025






Prior notification of a concentration
(Case M.11970 – TPG / MAVCO / PJ / COBRA OPCO)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2025/2607)


1.   
On 22 April 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:






—


TPG Inc. (‘TPG’, United States),










—


Mavco Investments Private Limited (‘Mavco’, India),










—


Mr Prashant Jain (India),










—


The ‘Carve-Out Business’, constituted by India Gamesa Renewable Energy Lanka (Private) Limited (India) and Siemens Gamesa Renewable Power Private Limited’s onshore wind turbine generator manufacturing, assembling, supply, operation and maintenance business (India), currently controlled by Siemens Energy AG.




TPG, Mavco, and Mr Prashant Jaim will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the Carve-Out Business.
The concentration is accomplished by way of purchase of shares in the newly created company Peony Properties Private Limited (Cobra OpCo”), constituting a joint venture.


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






—


TPG is a global asset management firm,










—


Mavco is a private company belonging to the families of Messrs Arunachalam, Subbiah and Venkatachalam, and is active in a wide range of industries predominantly located in India,










—


Mr Prashant Jain is a natural person, currently controlling one company generating revenues,










—


The Carve-Out Business is active in the manufacturing, supply, assembly, operation and maintainence of onshore wind turbines in India.






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.11970 – TPG / MAVCO / PJ / COBRA OPCO
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/2025/2607/oj
ISSN 1977-091X (electronic edition)