CELEX: 32020M9892
Language: en
Date: 2020-12-02 00:00:00
Title: Commission Decision of 02/12/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9892 - LEONARDO / THALES / VSB ) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 02.12.2020
                                                                C(2020) 8710 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9892 – LEONARDO / THALES / VSB
                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 30 October 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Leonardo
        S.p.A. (‘Leonardo’, Italy) and Thales S.A. (‘Thales’, France) acquire within the
        meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the
        whole of Vitrociset Space Business (‘VSB’, Italy) currently belonging to Vitrociset
        S.p.A. (‘Vitrociset’, Italy) and controlled by Leonardo. The concentration is
        accomplished by way of purchase of shares and assets.
2.      Following the implementation of the transaction, Leonardo and Thales will exercise
        joint control over VSB via their existing, jointly controlled, full-function joint
        venture,3 Telespazio S.p.A. The Transaction will entail a change of VSB’s governance
        structure, as VSB will shift from being subject to Leonardo’s exclusive control to
        being jointly controlled by both Leonardo and Thales via Telespazio S.p.A.4
3.      The activities of the undertakings concerned are:
        −     Leonardo: aerospace, defence and security, energy,                          communications,
              transportation and automation services at worldwide level.
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       The Commission assessed the full-functionality of Telespazio and authorised the creation of the joint
        venture in case M.3680, Alcatel/Finmeccanica/Alcatel Alenia Space & Telespazio and in case M.4403,
        Thales/Finmeccanica/Alcatel Alenia Space and Telespazio.
4       Publication in the Official Journal of the European Union No C 383, 13.11.2020, p. 10.
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---    −    Thales: aerospace, space, ground transportation, defence and security, and digital
        identity services at worldwide level.
   −    VSB: technical and engineering services, manufacturing, integration, operational
        management, maintenance, and logistics of ground systems for the management
        of space systems.
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 6 of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004.5
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
5  OJ C 366, 14.12.2013, p. 5.
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