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 20.06.2011, the Commission received a notification of a proposed concentration

pursuant to Article 4 of Council Regulation (EC) n°139/2004 by which SNCF,

through its subsidiary SNCF Voyages Développement, will acquire joint control

(through an acquisition of a 26% shareholding) with Haselsteiner Familien-

Privatstiftung and Stefan Wehinger Beteiligungs-und Beratungs GmbH over Rail

Holding AG, a company incorporated under the laws of Austria currently jointly

controlled by Haselsteiner Familien-Privatstiftung, Stefan Wehinger Beteiligungs-und

Beratungs GmbH and Augusta Holding AG.

Rail Holding AG is the sole shareholder of WESTbahn Management GmbH, a

company incorporated under the laws of Austria that is planning to operate rail

passenger transportation services in Austria with a special focus on the line between

Vienna and Salzburg in the first stage.

The business activities of the undertakings concerned are:

-- for SNCF: rail passenger transportation services in France and through

SNCF Voyages Développement in other European countries, freight,

public transportation services in France and in other countries and

management of the French railway infrastructure and railway stations

property;

-- for Haselsteiner Familien-Privatstiftung: investments in various small

and medium-sized businesses active in different sectors such as the

construction sector; and

-- for Stefan Wehinger Beteiligungs-und Beratungs GmbH: holding of a

shareholding in Rail Holding AG.

The proposed concentration falls within the scope of Council Regulation (EC)

n°139/2004 on the control of concentrations between undertakings.