CELEX: 32017M8592
Language: en
Date: 2017-09-04 00:00:00
Title: Commission Decision of 04/09/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8592 - CENTERBRIDGE / EGPH / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels,4.9.2017
                                                                C(2017) 6085 final
                                                                        PUBLIC VERSION
                                                                To the Notifying Parties
Subject:        Case M.8592 – CENTERBRIDGE / EGPH / JV
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
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                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 10 August 2017, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the undertakings
        CCP Credit Acquisition Holdings Luxco S.à r.l. (“Centerbridge Luxco 1”) and CSCP III
        Acquisition Luxco S.à r.l. (“Centerbridge Luxco 2”) (both of Luxembourg), indirectly
        controlled by a number of investment funds, all managed by affiliates of Centerbridge
        Partners, L.P. (“Centerbridge Partners”), ultimately controlled by two private individuals,
        and Enel Green Power Hellas S.A. (“EGPH”, Greece) belonging to the Enel Group (Italy)
        acquire within the meaning of Article 3(4) of the Merger Regulation joint control of a
        newly created undertaking constituting a Joint Venture (the "JV", Greece) by a purchase of
        shares.3
2.      The business activities of the undertakings concerned are:
        −     Centerbridge Partners is an investment management firm focused on private equity
              and distressed investment opportunities;
        −     EGPH is controlled by the ENEL Group of companies, the ultimate parent company of
              the group being Enel S.p.A. ENEL Group is an Italian multinational active in the
              production and distribution of electricity and gas in the EEA and worldwide;
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 273, 18.8.2017, 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---    −    The JV does not yet carry out any business activity. Its object is to build and operate
        seven wind farms at Kafireas (Euboea) in Greece.
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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