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.

COMP/M.5974 – FINAVIAS / ABERTIS / AUTOPISTA TRADOS M-45 SECTION 1.2

Description of the concentration

On 23 September 2010, the Commission received a notification of a proposed concentration pursuant to

Article 4 of council Regulation (EC) No 139/2004 (“Merger Regulation”) by which the undertakings

Finavias S.à.r.l. (“Finavias”) and Abertis Infraestructuras, S.A. (“Abertis”), acquire within the meaning of

Article 3(1)(b) of the Council Regulation joint control over the undertaking Autopista Trados M-45, S.A.

(“Trados M-45”) by way of purchase of shares.

The business activities of the undertakings concerned are:

Finavias - AXA Private Equity

Finavias is an acquisition vehicle owned by three investment vehicles managed or advised by AXA IMPEE

and is indirectly owned by AXA Group. AXA IMPEE is an asset management company investing in non-

listed companies or investment funds.

Abertis manages mobility and telecommunications infrastructures through five business areas which are

toll roads, telecommunications infrastructures, airports, car parks and logistics parks.

Trados M-45

Trados M-45 is a road concession management company.