CELEX: 32020M9965
Language: en
Date: 2020-10-13 00:00:00
Title: Commission Decision of 13/10/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9965 - ECP CONTROLCO / FIRST SENTIER INVESTORS / TERRA-GEN POWER HOLDINGS II) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 13.10.2020
                                                                C(2020) 7128 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9965 – ECP CONTROLCO / FIRST SENTIER INVESTORS /
                TERRA-GEN POWER HOLDINGS II
                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 21 September 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings ECP ControlCo, LLC (‘ECP’, USA), and First Sentier Investors (US)
        Infrastructure GP LLC (‘FSI’, USA), ultimately controlled by Mitsubishi UFJ
        Financial Group Inc (‘MUFG’, 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
        Terra-Gen Power Holdings II, LLC (‘TG’, USA), currently under the sole control of
        ECP by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
     —         for ECP: private equity investing, focusing on investing in existing and new-
               build energy infrastructure projects in North America,
     —         for FSI: asset management on behalf of clients such as institutional investors,
               pension funds, wholesale distributors and platforms, financial advisers and their
               clients,
     —         for TG: owning, operating and developing renewable and clean energy assets.
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
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 321, 29.9.2020, p. 46.
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---    paragraph 5(a) 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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