CELEX: 32022M10600
Language: en
Date: 2022-03-11 00:00:00
Title: Commission Decision of 11/03/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10600 - EDFI / MUBADALA / EMERGE JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 11.03.2022
                                                                 C(2022) 1596 final
                                                                                 PUBLIC VERSION
                                                                EDF International SAS
                                                                Tour EDF 20, Place de la Défense
                                                                92800 Puteaux
                                                                France
                                                                Abu Dhabi Future Energy Ccompany -
                                                                PJSC – Masdar
                                                                PO Box 54115, Opposite Presidential
                                                                Flight
                                                                Masdar City, Abu Dhabi
                                                                United Arab Emirates
Subject:        Case M.10600 - EDFI / MUBADALA / EMERGE JV
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                (EC) No 139/20041 and Article 57 of the Agreement on the European
                Economic Area2
Dear Sir or Madam,
1.      On 17 February 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation, by which an existing
        non full-function joint venture Emerge Limited (the “JV” or “Emerge”, United Arab
        Emirates), jointly controlled by EDF International (“EDFI”, France), a wholly-owned
        subsidiary of Electricité de France SA (“EDF”, France), and by Abu Dhabi Future
        Energy Company PJSC - Masdar (“Masdar”, United Arab Emirates), a wholly-owned
        subsidiary of Mubadala Investment Company PJSC (“Mubadala”, United Arab
        Emirates), will be transformed into a full-function joint venture performing on a
        lasting basis all the functions of an autonomous economic entity within the meaning
        of Article 3(4) of the Merger Regulation, by way of contract or any other means.3
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 89, 25.2.2022, p. 15.
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--- 2. The business activities of the undertakings concerned are:
       EDF: the generation, transmission, distribution, supply, and trading of energy in
        France and internationally,
       Masdar: a renewable energy and sustainability company that advances solutions
        in energy, water, urban development and clean technologies in the United Arab
        Emirates and around the world.
3. The business activities of Emerge relate to the operation of building energy efficiency,
   on-site solar power generation and public street lighting projects in the United Arab
   Emirates, and the Kingdom of Saudi Arabia.
4. 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
5. 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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