CELEX: 32021M10225
Language: en
Date: 2021-04-28 00:00:00
Title: Commission Decision of 28/04/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10225 - AES / COATUE / SCHNEIDER ELECTRIC / UPLIGHT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 28.04.2021
                                                                C(2021) 3138 final
                                                                                 PUBLIC VERSION
                                                                The AES Corporation
                                                                4300 Wilson Boulevard
                                                                Arlington, VA 22203
                                                                United States of America
                                                                Coatue Management, L.L.C.
                                                                9 West 57th Street, 25th Floor,
                                                                New York, NY 10019
                                                                United States of America
                                                                Schneider Electric SE
                                                                35 rue Joseph Monier
                                                                92506 Rueil-Malmaison Cedex
                                                                France
    Subject:       Case M.10225 – AES/Coatue/Schneider Electric/Uplight
                   Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                          1
                   (EC) No 139/2004 and Article 57 of the Agreement on the European
                                       2
                   Economic Area
Dear Sir or Madam,
1.      On 6 April 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings The AES Corporation (“AES”, USA), Coatue Management, L.L.C.
        (“Coatue”, USA), and Schneider Electric SE (“Schneider Electric”, France), acquire
        within the meaning of Article 3(1)(b) of the Merger Regulation joint control over the
        whole of the undertaking Uplight, Inc. (“Uplight”, USA) by way of purchase of
        shares.3
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 130, 14.4.2021, p. 4.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak--- 2. The business activities of the undertakings concerned are:
       for AES: a global energy company which operates thermal and renewable
        electricity generation distribution businesses,
       for Coatue: a global investment manager focused on technology, media and
        communications industries,
       for Schneider Electric: an international group that is mainly active in power
        management and in various types of software solutions and products for
        automation and energy management,
       for Uplight: an energy solutions company providing utilities with the software
        that enables end-consumers to monitor and adjust their energy consumption habits
        to reduce usage and costs.
3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                    For the Commission
                                                    (Signed)
                                                    Olivier GUERSENT
                                                    Director-General
4  OJ C 366, 14.12.2013, p. 5.
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