CELEX: 32017M8731
Language: en
Date: 2017-12-21 00:00:00
Title: Commission Decision of 21/12/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8731 - COMSA / MIROVA / PGGM / CEDINSA CONCESSIONÀRIA) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                              Brussels, 21.12.2017
                                                              C(2017) 9121 final
  In the published version of this decision, some
  information has been omitted pursuant to                              PUBLIC VERSION
  Article 17(2) of Council Regulation (EC) No
  139/2004 concerning non-disclosure of
  business secrets and other confidential
  information. The omissions are shown thus
  […]. Where possible the information omitted
  has been replaced by ranges of figures or a
  general description.
                                                               To the notifying parties:
Subject:        Case M.8731 – COMSA / MIROVA / PGGM / CEDINSA CONCESSIONÀRIA
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                             2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.        On 24 November 2017, the European Commission received notification of a proposed
          concentration pursuant to Article 4 of the Merger Regulation by which COMSA
          Concesiones S.L.U. ("COMSA", Spain), Mirova Core Infrasructure S.À.R.L ("Mirova",
          Luxembourg) and Stichting Depositary PGGM Infrastructure Fund ("PGGM", The
          Netherlands), acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger
          Regulation joint control of Cedinsa Concessionària S.A. ("Cedinsa", Spain), together
          with Cedinsa's other shareholders Meridiam Investments II, S.A.S. ("Meridiam", France)3
          and Copcisa Concesiones, S.L. ("Copcisa", Spain) by way of purchase of shares.4
2.        The business activities of the undertakings concerned are:
          – for COMSA: infrastructures and engineering sector,
          – for Mirova: portfolio management solutions aimed at combining value creation and
          sustainable 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       […].
4        OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).
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---     – for PGGM: pension services provider, specializing in the administration of collective
    pensions and including asset management,
    – for Cedinsa: holding company with subsidiaries active in the area of infrastructure
    concessions, in particular toll motorway concessions,
    – for Meridiam: management of infrastructure investments,
    – for Copcisa: construction, public work concessions, and real estate development.5
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 139/2004.6
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
5  Publication in the Official Journal of the European Union No C 413, 5.12.2017, p. 12.
6  OJ C 366, 14.12.2013, p. 5.
                                                         2