Case No COMP/M.3135 - SGAM4D / GUGGENHEIN / IES

Only the English text is available and authentic.

REGULATION (EEC) No 4064/89 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 16/04/2003

Also available in the CELEX database Document No 303M3135

Office for Official Publications of the European Communities L-2985 Luxembourg

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 16-4-2003

SG (2003) D/229449-229450

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

PUBLIC VERSION

To the notifying parties

Dear Madam(s) and/or Sir(s),

Subject: Case No. COMP/M.3135 ñ SGAM/4D/Guggenhein/IES Notification of 19.03.2003 pursuant to Article 4 of Council Regulation (EEC) No. 4064/891 Publication in the Official Journal of the European Communities No. C 76, 28/03/2003, p. 23

1.On 19.03.2003, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 by which which the Irish undertaking SGAM/4D, controlled by SociÈtÈ GÈnÈrale (ìFranceî), and Guggenhein Consultadoria e Servicos LDA (ìGuggenheinî, Portugal) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking Italiana Energia e Servizi S.p.a. (ìIESî, Italy), by way of the purchase of shares through a capital increase of IES.

The business activities of the undertakings concerned are :

-- for SGAM/4D: capital fund, holding a private equity portfolio, predominantly in the oil and gas industry

-- for SociÈtÈ GÈnÈrale: French full-service bank with activities in retail banking, asset management, investment banking and corporate finance

1OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17.

Commission europÈenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.

-- for Guggenhein: accounting and financial services, corporate consultancy and management of its financial assets

-- for IES: refining, marketing, supply and transportation of refined petroleum products.

3.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No. 4064/89 and of paragraph 4, subparagraphs b, of the Commission Notice on a simplified procedure for treatment of

certain concentrations under Council Regulation (EEC) No 4064/892.

For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No. 4064/89.

For the Commission

Signed, Mario MONTI Member of the Commission

2OJ C 217, 29.07.2000, p. 32.

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