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

-- The European Commission has received notification of a proposed concentration by which IIF Int'l Holding L.P. (IIF) will acquire joint control of North Sea Midstream Partners Limited (NSMP).

-- NSMP is currently solely controlled for the purposes of the EU Merger Regulation by Selkie Investments Midstream Topco Limited (Selkie Topco), a special purpose vehicle ultimately solely controlled by the Kuwait Investment Authority (KIA). The proposed transaction concerns the acquisition of a jointly controlling stake in NSMP, via Selkie Topco, by IIF LuxCo2 SARL or its designee, a special purpose vehicle wholly owned by IIF (the Proposed Transaction). The Proposed Transaction will therefore result in a change from sole control over NSMP by KIA to joint control by each of KIA and IIF, and therefore constitutes a notifiable concentration under Article 3(1)(b) of the Merger Regulation.

-- NSMP is a North Sea gas infrastructure business active in three product markets around the UK North Sea: (i) transportation of natural gas by pipeline; (ii) processing of natural gas; and (iii) sale of gas and natural gas liquids.

-- IIF is a limited partnership investment fund specialised in infrastructure investments, which focuses on long-term investments in infrastructure assets in OECD countries.

-- KIA manages its funds as a global investor, with investments in all main geographical areas and asset classes. It is a long-term investor and the in-house investment management team covers equities, fixed income, treasury, private equity and property.

-- Neither IIF nor KIA, nor any of their controlled portfolio companies, is active in any of the above markets, nor in any vertically related upstream or downstream markets. Therefore, the Proposed Transaction does not give rise to any reportable markets.

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.