CELEX: 32014M7157
Language: en
Date: 2014-02-21 00:00:00
Title: Commission Decision of 21/02/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7157 - BPCE / GIMV / VEOLIA TRANSPORT BELGIUM) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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                                        Brussels, 21.02.2014
                                        C(2014) 1274

To the notifying parties

Dear Madam(s) and/or Sir(s),

Subject:    Case M.7157 – BPCE / GIMV / VEOLIA TRANSPORT BELGIUM
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

   1. On 22.1.2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation  by
      which the undertakings European Transport Holding S.à.r.l. ("ETH", Luxemburg), a wholly-owned subsidiary of  Cube  Transport  SCA  ("Cube",
      Luxemburg), whose general partner (and manager) is Natixis Environnement & Infrastructures Luxembourg SA ("NEIL"), itself belonging to  the
      Banques Populaires Caisses d’Epargne group ("BPCE", France), on the one part, and Gimv NV ("Gimv", Belgium), on the other part,  intend  to
      acquire within the meaning of Article 3(1)(b) of the  Merger Regulation joint control  of  the  undertaking  Veolia  Transport  Belgium  NV
      ("VTB", Belgium) by way of purchase of shares.

   2. The business activities of the undertakings concerned are:

      -     for ETH: ETH is a subsidiary of Cube Infrastructure Fund, which is an  investment  fund  specialised  in  infrastructure  and  public
           services, in particular in the area of transport, energy supply, power and communication infrastructures.

      -     for Gimv: Gimv is a limited liability company organised under the law of Belgium. It is an investment company in private  equity  and
           venture capital with a portfolio of some 85 companies. The portfolio is dispersed over  different  European  countries  and  activity
           sectors.

      -     for VTB: VTB and its subsidiaries are active in the Belgian market for transportation of persons  by  bus,  including  line  traffic,
           school traffic, charter bus, personnel transportation. The company also offers travel agency services.[2].

   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) and 5(b) of the Commission Notice on a simplified procedure for treatment of certain concentrations
      under Council Regulation (EC) No 139/2004[3].

   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.

                                        For the Commission

                                                                     (signed)

                                        Alexander ITALIANER
                                        Director General
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[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]   Publication in the Official Journal of the European Union No C 27, 30.1.2014,  p.24
[3]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE