CELEX: 32021M10194
Language: en
Date: 2021-03-16 00:00:00
Title: Commission Decision of 16/03/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10194 - CDP VENTURE CAPITAL / GENERALI WELION / JV ) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 16.03.2021
                                                                C(2021) 1893 final
                                                                                 PUBLIC VERSION
                                                                CDP Venture Capital SGR S.p.A.
                                                                Via Arduino 22
                                                                00162 Roma
                                                                Italy
                                                                Generali Welion S.C.A.R.L.
                                                                Via Machiavelli 4
                                                                34132 Trieste
                                                                Italy
Subject:        Case M.10194 – CDP VENTURE CAPITAL / GENERALI WELION / JV
                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 19 February 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which CDP Venture
        Capital SGR S.p.A. (‘CDP Venture Capital’, Italy), controlled by CDP Generali, and
        Welion S.C.A.R.L (‘Generali Welion’, Italy), controlled by Assicurazioni Generali,
        acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint
        control of JVCo, a newly established joint venture company (‘JVCo’, Italy). The
        concentration is accomplished by way of purchase of shares in a newly created
        company constituting a joint venture.3
2.      The business activities of the undertakings concerned are:
             for CDP: financing of public bodies and initiatives promoted by them, in the
              acquisition of shareholdings in companies of significant national interest, in the
              financing of works, plants, networks and endowments for the provision of public
              services;
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 75, 4.3.2021, p. 6.
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---        for CDP Venture Capital: direct and indirect investments, managing funds,
        support startups in all phases of their life cycle;
       for Assicurazioni Generali: all types of insurance, nationally and internationally;
       for Generali Welion: consultancy and management services for individual health
        and corporate welfare; and
       for JVCo: the provision of residential and recreational services for the elderly, as
        well as wellness and assistance services.
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)
                                                      Olivier GUERSENT
                                                      Director-General
4  OJ C 366, 14.12.2013, p. 5.
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