CELEX: 32019M9627
Language: en
Date: 2019-12-13 00:00:00
Title: Commission Decision of 13/12/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9627 - APG / ELECNOR / CC&I) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 13.12.2019
                                                                C(2019) 9257 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9627 – APG / ELECNOR / CC&I
                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 20 November 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Pasterze
        Investments Holding B.V. (“PIH”, the Netherlands), and Elecnor S.A. (“Elecnor”,
        Spain) acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger
        Regulation joint control of Celeo Concesiones e Inversiones S.L.U. (“CC&I”, Spain),
        currently part of Elecnor, by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for PIH: PIH is owned by two mutual funds managed by APG Asset Management
              N.V. which in turn is part of the APG Group N.V. (“APG”). APG is active in
              executive consultancy, asset management, pension administration and
              communication for pension funds in the field of collective pensions;
             for Elecnor: engineering, construction and services projects in areas including
              electricity, power generation, gas, telecommunications and systems, railways,
              energy maintenance and efficiency; ind and solar power generation;
             for CC&I: the management of Elecnor´s investment in power transmission
              projects and, as principal concessionaire with concessions in Brazil and Chile, the
              delevopment and management of photovoltaic and thermoelectric electricity
              generation in Spain and in the generation and wholesale supply of electricity.
              Post-transaction, CC&I will serve as joint platform to develop and manage energy
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 (the ‘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 402, 28.11.2019, p. 23.
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---         transmission infrastructure projects and renewable energy projects (except for
        wind renewable energy projects), mainly in Chile, Brazil and Spain.
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)
                                                  Cecilio MADERO VILLAREJO
                                                  Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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