CELEX: 32019M9543
Language: en
Date: 2019-10-31 00:00:00
Title: Commission Decision of 31/10/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9543 - DIAMOND TRANSMISSION CORPORATION / INFRARED CAPITAL PARTNERS / CHUBU / WALNEY JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 31.10.2019
                                                                C(2019) 7976 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9543 – DIAMOND TRANSMISSION CORPORATION /
                INFRARED CAPITAL PARTNERS / CHUBU / WALNEY JV
                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 9 October 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Diamond Transmission Corporation Limited (“DTC”, United Kingdom),
        controlled by Mitsubishi Corporation (“MC”, Japan), InfraRed Capital Partners
        Limited (“IRCP”, United Kingdom), controlled by InfraRed Capital Partners
        (Management) LLP (United Kingdom) and Chubu Electric Power Co., Inc (“Chubu”,
        Japan) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger
        Regulation joint control over the whole of the undertaking Diamond Transmission
        Partners Walney Extension (Holdings) Limited (“Target”, United Kingdom) by way
        of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for DTC: a holding company that integrates MC’s investment activities in the
              electricity transmission sector. DTC currently solely owns the Target,
             for IRCP: an infrastructure investment management company active in financial
              advice and managing investments on behalf of investment funds,
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 350, 16.10.2019, 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---        for Chubu: a multi-energy services group based in the Chubu region in Japan,
        with activities related to electric utility and related enterprises, gas supply and
        thermal storage brokerage, on-site energy businesses, overseas consulting and
        investment, real estate management services and IT services,
       for the Target: ownership and operation of the transmission network for the
        Walney Extension offshore windfarm in the United Kingdom.
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(b) 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)
                                                     Cecilio MADERO VILLAREJO
                                                     Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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