CELEX: 32018M9091
Language: en
Date: 2018-10-29 00:00:00
Title: Commission Decision of 29/10/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.9091 - SNAM S.p.A. / Società Gasdotti Italia S.p.A. / Macquarie Group) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 29.10.2018
                                                                C(2018) 7328 final
                                                                        PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9091 - SNAM / SGI / SARDINIA NEWCO
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                             2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 01 October 2018, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which SNAM S.p.A.
        (“SNAM”, Italy), controlled by Cassa Depositi e Prestiti S.p.A. (Italia) and Società
        Gasdotti Italia S.p.A. ("SGI", Italy), jointly controlled by the Macquarie Group (Australia)
        and the Swiss Life Group (Switzerland), acquire, within the meaning of Article 3(1)(b) and
        3(4) of the Merger Regulation, joint control over the whole of Sardinia Newco.3 The
        concentration is accomplished by way of purchase of shares.
2.      The business activities of the undertakings concerned are:
             SNAM is active in the development and management of gas infrastructures in Italy
              and other European countries;
             SGI is active in the transmission of natural gas in Italy; the Macquarie Group is a
              global provider of banking, financial, advisory, investment and funds management
              services; Swiss Life Group is active in the insurance and asset management sectors;
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 372, 15.10.2018, p. 8.
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---        Sardinia Newco is a newly established joint venture which will build and operate a
        natural gas transmission pipeline in the Sardinian territory.
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)
                                                    Johannes LAITENBERGER
                                                    Director-General
4  OJ C 366, 14.12.2013, p. 5.
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