CELEX: 32019M9485
Language: en
Date: 2019-08-22 00:00:00
Title: Commission Decision of 22/08/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9485 - NAEV Solventus S.à r.l. / Siemens Project Ventures GmbH / Korea Midland Power Co.) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 22.08.2019
                                                                C(2019) 6250 final
                                                                                 PUBLIC VERSION
                                                                To the notifying party
Subject:        Case M.9485 – NAEV / SIEMENS / KOMIPO / STAVRO VIND
                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 30 July 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which NAEV
        SOLVENTUS S.A.R.L, controlled by NAEV Infrastructure Funds (of Germany)
        ("NAEV"), Siemens Project Ventures GmbH, controlled by Siemens AG (of
        Germany) ("Siemens"), and Korea Midland Power Co. ("KoMiPo"), controlled by
        Korea Electric Power Corporation ("KEPCO") (of South Korea), acquire within the
        meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the
        whole of Stavro Vind Aktiebolag ("Stavro Vind", of Sweden), currently solely
        controlled by NAEV, by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        –        NAEV provides services regarding old-age provision for the medical
                 profession in Germany.
        –        Siemens is active in the business areas of electrification, automation and
                 digitalization. Through the Siemens Gamesa Renewable Energy unit, Siemens
                 also offers solutions in the area of renewable energy, in particular wind
                 turbines.
        –        KEPCO is the largest electricity supplier in South Korea and is responsible for
                 the generation, transmission and distribution of electricity and the development
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 264, 6.8.2019, 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---            of power generation projects, including those in the nuclear, wind and coal
           sectors.
   –       Stavro Vind has been set up for the planning, construction, financing, and
           operation of the two onshore wind farm sites Blackfjället and Blodrotberget in
           Sweden.
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(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)
                                                  Johannes LAITENBERGER
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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