CELEX: 32020M9840
Language: en
Date: 2020-05-11 00:00:00
Title: Commission Decision of 11/05/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9840 - MACQUARIE / FRESCO INTERNATIONAL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 11.5.2020
                                                                C(2020) 3165 final
                                                                                 PUBLIC VERSION
                                                                To the notifying party
Subject:        Case M.9840 – Macquarie/Fresco International
                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 16 April 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertaking Macquarie European Infrastructure Fund 4 LP (“MEIF 4”) (the United
        Kingdom), ultimately controlled by Macquarie Group Limited (“Macquarie”)
        (Australia) acquires within the meaning of Article 3(1)(b) of the Merger Regulation
        control over the undertaking Fresco International S.à.r.l (“Fresco International”)
        (Luxembourg), currently jointly indirectly controlled by Macquarie and Kuwait
        Investment Authority ("KIA") (Kuwait) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     for Macquarie: Macquarie is an investment company with interests in a number of
              companies in various industry sectors, including but not limited to interests in
              energy utilities in Europe,
        −     for Fresco International: Fresco International is the holding company of the
              Viesgo Group. The Viesgo Group is incorporated in Spain, with interests in an
              electricity distribution network in Spain and electricity generation assets in both
              Spain and Portugal. Fresco International is currently jointly indirectly controlled
              by Macquarie and KIA.
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 132, 23.4.2020, p. 14.
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--- 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(d) 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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