EUROPEAN COMMISSION

DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004

MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION

Date: 06/03/2024

In electronic form on the EUR-Lex website under document number 32024M11441

EUROPEAN COMMISSION

Brussels, 6.3.2024 C(2024) 1604 final

PUBLIC VERSION

Bpifrance Investissement 6-8, boulevard Haussmann 75009 Paris France

Meridiam SAS 4 Place de l’Opéra 75002 Paris France

Dear Sir or Madam,

(1)(1) On 13 February 2024, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, and following a referral pursuant to Article 4(5) of the Merger Regulation by which Bpifrance Investissement (France), ultimately jointly controlled by Caisse des Dépôts et Consignations (France) and the Etablissement Public Industriel et Commercial Bpifrance (France), and Meridiam SAS (“Meridiam”) (France), controlled by Meridiam Infrastructure Partners S.A.S. (France), will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of 3Groupe Exoès (“JV”) (France) by way of purchase of shares. ()

(2)(2) The business activities of the undertakings concerned are the following:

–– Bpifrance Investissement is an asset management company approved and supervised by the Autorité des Marchés Financiers in France,

–– Meridiam is a global investor and asset manager specialising in sustainable asset management and, in particular, in the development and management of business projects facilitating the green transition,

1()1() OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology of the TFEU will be used throughout this decision.

2()2() OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

3()3() OJ C, C/2024/1717, 22.02.2024. Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË – Tel. +32 22991111

– The JV is a specialist in thermal systems for electric batteries, electric motors, power electronics and heat pumps. It provides consultancy and engineering services relating to battery cooling systems for electric vehicles. It plans to manufacture and commercialise electric batteries as from 2026.

(3)(3) After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraphs 5(b) and 5(d) of the Commission Notice on a simplified treatment for 4certain concentrations under Council Regulation (EC) No 139/2004. ()

(4)(4) For the reasons set out in the Notice on a simplified treatment, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission

(Signed) Olivier GUERSENT Director-General

4()4() OJ C 160, 5.5.2023, p. 1 (the ‘Notice on a simplified treatment’).