CELEX: 32020M10058
Language: en
Date: 2020-12-21 00:00:00
Title: Commission Decision of 21/12/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.10058 - PORSCHE / TRANSNET / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 21.12.2020
                                                                C(2020) 9563 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M. 10058 – PORSCHE / TRANSNET / 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 27 November 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Dr. Ing. h.c. F.
        Porsche Aktiengesellschaft ("Porsche", Germany), through its subsidiary MHP, and
        TransnetBW GmbH ("Transnet", Germany), acquire within the meaning of Articles
        3(1)(b) and 3(4) of the Merger Regulation joint control over a yet to be, i.e. newly
        established, joint venture company ("JVC"), by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
              for Porsche: a wholly owned, indirectly controlled, subsidiary of Volkswagen
                 Aktiengesellschaft (“VWAG”), active worldwide in the development,
                 manufacture, marketing and sale of passenger cars, light commercial vehicles,
                 trucks, buses, coaches, chassis for buses and diesel engines, motor bikes, each
                 including spare parts, and accessories. The VW Group also engages in vehicle
                 distribution.
              for Transnet: transmission system operator with its headquarter in Stuttgart,
                 Germany. Transnet operates a large part of the transmission system in Baden-
                 Wuertemberg. Transnet is a wholly owned subsidiary of EnBW Energie
                 Baden-Württemberg AG (“EnBW”), an integrated energy supply company
                 based in Germany.
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 419, 04.12.2020, p. 44.
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
   paragraphs 5(a) and 5(c) 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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