CELEX: 32014M7205
Language: en
Date: 2014-03-28 00:00:00
Title: Commission Decision of 28/03/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7205 - EXTRA HOLDING / DOLPHIN / IDBD) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |
|                                  |                                                                                                         |
|                                  |                                                                                                         |
|                                  |                                                                                                         |
|                                  |                                                                                                         |

                                        Brussels, 28.03.2014
                                        C(2014) 2210 final

|                                                                       |                                                                       |
|To the notifying parties:                                              |                                                                       |

Dear Madam/Sir,

 Subject: Case M.7205 - EXTRA HOLDING / DOLPHIN / IDBD
Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

 1. On 5 March 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation  by
    which the undertakings E.T.H. M.B.M. Extra Holding Ltd., (“Extra Israel”, Israel), controlled   by   Mordechay   Ben-Moshe    (Israel),   and
      Dolphin   Fund   Ltd. (Bermuda),  controlled  by  Eduardo  Elsztain,  acquire  within  the  meaning  of Article  3(1)(b)   of  the   Merger
    Regulation  joint  control  over  IDB  Development Corporation Ltd. (“IDBD”, Israel), by way of purchase of shares[2].

 2. The business activities of the undertakings concerned are:

       – Ben-Moshe Group: energy supply, telecommunications, insurance and travel in Germany.
       – Elsztain Group:  real estate, agribusiness and banking, mainly in Argentina, and mining in Chile.
       – IDBD is engaged in a broad variety of market  sectors  mainly  in  Israel  and  abroad  and  is  active  in  various  sectors  such  as
         telecommunications, travel, crop protection products, fruits and  vegetables,  real  estate,  technology,  retail  sale,  gas  and  oil
         exploration, and finance and insurance.

 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[3].

 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.

                                        For the Commission

                                        (signed)
                                        Alexander ITALIANER
                                        Director General
-----------------------
[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]   Publication in the Official Journal of the European Union No C 73, 12.3.2014, p.33.
[3]   OJ C 366, 14.12.2013, p. 5.

-----------------------
                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE