CELEX: 32020M9667
Language: en
Date: 2020-01-09 00:00:00
Title: Commission Decision of 09/01/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9667 - BLACKROCK GROUP / RAFFLES / KELLAS GROUP) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 9.1.2020
                                                                C(2020) 124 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9667 – BLACKROCK GROUP / RAFFLES / KELLAS GROUP
                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 December 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Global Energy & Power Infrastructure Fund III L.P. (“GEPIF III”,
        USA), belonging to the BlackRock Group (“BlackRock”, USA), and Raffles Infra
        Holdings Limited (“Raffles”, Singapore), belonging to the GIC Group, acquire within
        the meaning of Article 3(1)(b) of the Merger Regulation joint control over the whole
        of the undertaking Kellas Group Holdings Limited (“Kellas Group”, United
        Kingdom), currently owned by Antin Infrastructure Partners Luxembourg II S.a.r.l.
        and certain members of Kellas Group’s management by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             GEPIF III is a fund focussing on investments in the energy and power
              infrastructure value chain. It is managed by a subsidiary of BlackRock, a publicly
              traded company active in the provision of investment management, risk
              management and advisory services,
             Raffles is an investment vehicle managed by GIC Special Investments Private
              Limited (“GICSI”), which manages a global portfolio of investments in private
              equity, venture capital and infrastructure funds, as well as direct investments in
              private companies for the government of Singapore. GICSI belongs to the GIC
              Group,
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 424, 17.12.2019, p. 23.
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---        Kellas Group is a midstream infrastructure business active in the transportation
        and processing of natural gas and natural gas liquids.
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)
                                                   Olivier GUERSENT
                                                   Director-General
4  OJ C 366, 14.12.2013, p. 5.
                                              2