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 30 July 2021, the European Commission received the notification of a proposed transaction pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which Enel X S.r.1., established in Italy, and Volkswagen Finance Luxembourg S.A., established in Luxembourg, intend to acquire, within the meaning of Article 3(1 )(b) and 3(4) of the EU Merger Regulation, joint-control over a newly-established joint venture company (the “JVC”) by way of subscription/purchase of shares (rectius quotas as the JVC is an Italian società a responsabilità limitata, whose equity is composed of quotas rather than shares).

The primary business activities of the undertakings concerned are as follows:

-- Enel X S.r.l. is a wholly-owned subsidiary of Enel S.p.A., which is the parent company of the Enel Group, a multinational Italian energy group, with a particular focus on Europe and Latin America, active in the electricity and natural gas sectors as well as in the development and supply of innovative products and solutions aimed at enabling energy transition, including e-mobility.

-- Volkswagen Finance Luxembourg S.A. is a wholly-owned subsidiary of Volkswagen AG, which is the parent company of the Volkswagen Group, a German group active worldwide in the design, manufacture, sale and distribution of passenger cars, light commercial vehicles, trucks, buses, coaches, chassis for buses and diesel engines, motor bikes and ancillary financial and insurance services as well as mobility service solutions.

-- The JVC will invest in, own, install, operate and maintain a network of publicly accessible high-power – aka ultra-fast – charging stations (i.e., with power above 100 kW and up to 350 kW) for electric vehicles in Italy.

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.