Prior notification of a concentration (Case M.12010 – ACTIS / GIC / SERENA ENERGIA) – Candidate case for simplified procedure
Date: 2025-06-05
Institutions: Directorate-General for Competition, European Commission
Subjects: Brazil, United States, economic concentration, electrical energy, energy production, investment company, merger control, renewable energy








C_202503177EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2025/3177


5.6.2025






Prior notification of a concentration
(Case M.12010 – ACTIS / GIC / SERENA ENERGIA)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2025/3177)


1.   
On 22 May 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:






—


Actis GP LLP (‘Actis’, United Kingdom), controlled by General Atlantic Partners, L.P. (‘GA’, United States),










—


GIC (Ventures) Pte. Ltd. (‘GIC’, Singapore), ultimately controlled by the Government of Singapore,










—


Serena Energia S.A. (‘Serena Energia’, Brazil).




Actis and GIC, the latter through its indirectly controlled investment vehicle Warrington Investment Pte. Ltd. (Singapore), will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Serena Energia.
The concentration is accomplished by way of public bid.


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






—


Actis is a global investor with a focus on sustainable infrastructure, active particularly in the energy infrastructure, long life infrastructure, digital infrastructure, real estate, and private equity sectors. GA is a global private equity firm which provides capital and strategic support for growth companies in seven sectors: climate, consumer, financial services, healthcare, life sciences, technology, and sustainable infrastructure,










—


GIC manages a diversified global portfolio of investments in private equity, venture capital and infrastructure, as well as direct investments in private companies,










—


Serena Energia is active in Brazil and the United States, where it carries out activities related to the generation and commercialisation of electric power derived exclusively from clean and renewable energy sources.






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.12010 – ACTIS / GIC / SERENA ENERGIA
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/2025/3177/oj
ISSN 1977-091X (electronic edition)