Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

1.On 6 December 2019, the Commission received notification of a proposed concentration pursuant to Art. 4 of Council Regulation (EC) No. 139/2004 (EUMR) by which Keppel Infrastructure Holdings Pte. Ltd. (Keppel Infrastructure) acting through Keppel Energy Switzerland Holding AG (KISub) and one of the current shareholders of MET Holding AG (MET), i.e. MET Capital Partners AG (MET Capital), intend to acquire joint control over MET, within the meaning of Art. 3(1)(b) of EUMR. Following the implementation of the proposed concentration, Keppel Corporation Limited, the ultimate parent company of Keppel Infrastructure and KISub, will indirectly exercise joint control over MET together with Mr. Benjamin Lakatos, who indirectly ultimately controls MET Capital.

The primary business activities of the undertakings concerned are:

(a) Keppel Infrastructure: Keppel Infrastructure is responsible for the operations of a group of companies active in the fields of energy infrastructure (power generation, electricity / natural gas retailing, district heating & cooling solutions and services) and environmental infrastructure (waste to energy and water treatment solutions).

(b) MET Capital/ MET: MET Capital is a holding company, holding majority participation in MET and its subsidiaries active in the energy sector. MET is active in Europe through its subsidiaries with activities in natural gas, LNG/LPG, power and oil, focused on multi-commodity wholesale, trading and sales, as well as energy infrastructure and industrial assets.