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

On 20 July 2017, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) 139/2004 by which Brookfield Renewable UK Hydro Limited (BRUKHL) will acquire 25% of the share capital of FHH (Guernsey) Limited (FHHGL) from Mitsui Power Ventures Limited. The transaction will result in BRUKHL acquiring joint control of FHHGL, within the meaning of Article 3(1)(b) of the Council Regulation.

IP Karugamo Holdings (UK) Limited (IPKH) will also hold joint control by virtue of retaining its existing ownership of 75% of the Target’s share capital.

The parties’ activities are as follows:

• The FHHGL business comprises a pumped storage electricity generator and wholesale supplier in North Wales.

• BRUKHL is ultimately controlled by Brookfield Asset Management Inc., a Canadian global asset manager, which invests mainly in agriculture, timber, financial services, property, renewable power and infrastructure assets (Brookfield).

• IPKH is ultimately controlled by ENGIE S.A., a French-listed global energy player active across the entire energy-value chain in the fields of gas, electricity and energy services (ENGIE).