Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 4 of Short 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 4

Description of the concentration

This notification concerns the following undertakings:

i. Morgan Stanley Infrastructure Inc. (“MSI”), USA, controlled by Morgan Stanley;

ii. Finhold S.r.l., Italy, controlled by the Salciccia family; and

iii. Salcef Group S.p.A., Italy, currently solely controlled by Finhold S.r.l.

MSI and Finhold S.r.l. acquire, within the meaning of Article 3(1), point (b) of the Merger Regulation, joint control of the whole of Salcef Group S.p.A.

The concentration is accomplished by way of a purchase of shares.

The business activities of the undertakings concerned are:

i. for MSI: Financial services, including asset management advice and in particular advice of funds that invest in infrastructure assets predominantly in OECD countries.

ii. for Finhold S.r.l.: holding entity ultimately controlled by the Salciccia family.

iii. for Salcef Group S.p.A.: international group specialised in the construction and maintenance of railway and metro infrastructures, and is mainly active in Europe, the USA and the Middle East.

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