CELEX: 32020M9764
Language: en
Date: 2020-03-19 00:00:00
Title: Commission Decision of 19/03/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9764 - RED ROCK POWER / CAPMAN INFRA LUX MANAGEMENT / NH-AMUNDI ASSET MANAGEMENT / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                        Brussels,19.3.2020
                                                                        C(2020) 1850 final
                                                                                 PUBLIC VERSION
                                                                        To the notifying parties
Subject:        Case M.9764 — Red Rock Power/CapMan Infra Lux Management/NH-
                Amundi Asset Management/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 26 February 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Red Rock
        Power Limited (“Red Rock Power”), an indirect subsidiary of SDIC Power Holdings
        Co Ltd (“SDIC Power”, China), CapMan Plc (“CapMan”, Finland) and NH-Amundi
        Asset Management Co. Ltd (“NH-Amundi”, Korea), jointly controlled by NongHyup
        Financial Group (ultimately owned by the Korean National Agricultural Cooperative
        Federation) and Amundi Asset Management (ultimately owned by Crédit Agricole
        Group), acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger
        Regulation joint control of Cloud Snurran AB (“Cloud Snurran”, Sweden) by way of
        purchase of shares.3
2.      The business activities of the undertakings concerned are:
             Red Rock Power is the holding company for SDIC Power’s European wind sector
              investments; SDIC Power is a China-based company principally engaged in the
              investment, construction, operation and management of electric power plants
              mainly in China,
             CapMan is a Nordic investment and specialised asset management undertaking,
             NH-Amundi is an asset management company, which provides investment trust
              and mutual fund management for all types of investments,
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 73, 6.3.2020, p. 8.
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---        Cloud Snurran is the JV that will develop, construct and operate an onshore wind
        farm 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(b) 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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