Prior notification of a concentration (Case M.12297 – BLACKROCK / GRASIM / ABREN) – Candidate case for simplified procedure
Date: 2026-01-29
Institutions: Directorate-General for Competition, European Commission
Subjects: India, economic concentration, electrical energy, energy production, investment company, merger control, renewable energy, solar energy, wind energy








C_202600704EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2026/704


29.1.2026






Prior notification of a concentration
(Case M.12297 – BLACKROCK / GRASIM / ABREN)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2026/704)


1.   
On 20 January 2026, 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:






—


GIM EM Manager LLC (‘GIM’, US), controlled by BlackRock Group (US),










—


Grasim Industries Limited (‘Grasim’, India), controlled by Mr. Kumar Mangalam Birla. Grasim controls Aditya Birla Renewables Limited (‘ABReN’, India).




GIM and Grasim will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of ABReN.
The concentration is accomplished by way of purchase of shares.


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






—


GIM is an investment management company,










—


Grasim is, among others, active in the manufacturing of cellulosic fibres, chemicals, fashion yarn, and fabrics, paints and B2B e-commerce. Through its subsidiaries, UltraTech Cement, Aditya Birla Capital, and ABReN, it is also, respectively, a cement producer, diversified financial services player, and clean energy solutions player in India.






3.   

ABReN is active in the power generation through renewable energy resources including solar, wind, hybrid power in India.



4.   
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.


5.   
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.12297 – BLACKROCK / GRASIM / ABREN
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/2026/704/oj
ISSN 1977-091X (electronic edition)