CELEX: 32015M7695
Language: en
Date: 2015-08-05 00:00:00
Title: Commission Decision of 05/08/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7695 - BLACKROCK / FIRST RESERVE / ENGIE / TAG PIPELINES SUR) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 5.8.2015
                                        C(2015) 5670 final

                                        [pic][pic]

|To the notifying parties:                                              |                                                                       |
|                                                                       |                                                                       |

Dear Sirs,

Subject:    Case M.7695 – BLACKROCK/ FIRST RESERVE/ ENGIE/ TAG PIPELINES SUR
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 30.06.2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation  by
    which BlackRock, Inc. ('BlackRock', USA), First Reserve Management, L.P. ('First Reserve', USA) and GDF Suez SA  ('Engie',  France)  acquire
    within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the undertaking TAG Pipelines Sur, S.  de  R.L.  de
    C.V. ('TAG Pipelines Sur', Mexico) by way of purchase of shares in a newly created company constituting a joint venture.[3]

 2. The business activities of the undertakings concerned are:

    -      BlackRock: Publically-traded asset manager, managing assets on behalf of its clients,  as  well  as  providing  risk  management  and
           advisory services.

    - First Reserve: A private equity firm specialized in the energy industry, including oilfield services, energy infrastructure, and power and
           energy reserves.

      -    Engie: The group is active across the entire energy chain, in electricity and natural gas.

      -    TAG Pipelines Sur: Construction and operation of the Los Ramones II (Sur) gas pipeline in Mexico.

 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(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),
                                        Alexander ITALIANER
                                        Director-General

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[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 224, 09.07.2015, p. 5.
[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE