CELEX: 32017M8461
Language: en
Date: 2017-06-15 00:00:00
Title: Commission Decision of 15/06/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8461 - CHRYSAOR (HARBOUR ENERGY GROUP) / TARGET ASSETS ) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                     
                  
               
               Brussels, 15.6.2017
            
            
               C(2017) 4252 final
            
            
            
               To the notifying parties
               
            
            
               Subject:Case M.8461 – CHRYSAOR (HARBOUR ENERGY GROUP) / TARGET ASSETS  
                  Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004
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                and Article 57 of the Agreement on the European Economic Area
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               Dear Sir or Madam,
            
            
               1.On 18 May 2017, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Chrysaor Holdings Limited (‘CHL’, the United Kingdom), controlled by EIG Global Energy Partners (‘EIG’, United States), acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of a portfolio of Northern North Sea assets (‘Target Assets’), currently owned by the Shell Group (the Netherlands), by way of a purchase of shares and assets.
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               2.The business activities of the undertakings concerned are:
            
            
               -for CHL: the development and commercialisation of oil and gas incremental reserves. CHL is indirectly controlled by EIG, a global investment fund specialising in energy and energy-related infrastructure.
            
            
               -for the Target Assets: the exploration of crude oil and natural gas and the development, production and sale of crude oil.
            
            
               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.
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               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
            
            
         
         
            
                  
                     (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 169, 30.05.2017, p.51.
               
               
                  
                     (4)
                  
                  
                      
                           OJ C 366, 14.12.2013, p. 5.