Prior notification of a concentration (Case M.12308 – EDIZIONE / TAGES / 21 INVEST) – Candidate case for simplified procedure
Date: 2026-06-17
Institutions: Directorate-General for Competition, European Commission
Subjects: France, Italy, economic concentration, holding company, industrial enterprise, investment company, merger control








C_202603253EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2026/3253


17.6.2026






Prior notification of a concentration
(Case M.12308 – EDIZIONE / TAGES / 21 INVEST)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2026/3253)


1.   
On 8 June 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:






—


Edizione S.p.A. (‘Edizione’, Italy), together with its portfolio companies belonging to the Edizione group,










—


Tages S.p.A. (‘Tages’, Italy), controlling Tages Capital SGR S.p.A. (‘Tages SGR’, Italy),










—


21 Invest S.p.A. (‘21 Invest’, Italy), controlling 21 Invest SGR S.p.A. (‘21 Invest SGR’, Italy) and 21 Invest France S.A.S (‘21 Invest France’, France).




Edizione will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of Tages and 21 Invest.
The concentration is accomplished by way of purchase of shares.


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






—


Edizione is an Italian industrial investment holding company which owns a diversified portfolio of long-term holdings in transport infrastructure, digital infrastructure, fashion and textiles,










—


Tages is an Italian company which controls the majority of the shares of Tages Capital SGR, a manager of alternative investment funds active exclusively in Italy and currently focused primarily on investing in renewable energy and energy-transition assets,










—


21 Invest is an Italian holding company that controls 21 Invest SGR and 21 Invest France, asset management companies respectively operating in the Italian and French markets. They are active in the provision of collective asset management services through the establishment, promotion and organisation of closed-end mutual funds, which are focused on the lower mid-market private equity segment across a wide range of industrial sectors (i.e., food and beverages, IT, medical, industrial manufacturing, infrastructure, and transport services).






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.12308 – EDIZIONE / TAGES / 21 INVEST
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/2026/3253/oj
ISSN 1977-091X (electronic edition)