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

The notified concentration concerns an acquisition in relation to the potential sale by BIF III UK First Hydro Aggregator L.P. of 100% of the issued share capital of Brookfield Renewable UK Hydro II Limited, representing the indirect sale of a 25% interest of FHH No. 1 Limited and subsidiaries (the Target), to CDP Groupe Infrastructures Inc., a 100% directly owned subsidiary of Caisse de dépôt et placement du Québec (CDPQ), with IP Karugamo Holdings (UK), a 100% owned subsidiary of ENGIE, retaining a 75% interest in the Target (the Proposed Transaction).

Pursuant to the Proposed Transaction, the Target will be indirectly jointly controlled by CDPQ and ENGIE (the Notifying Parties).

Following the Proposed Transaction, the Notifying Parties will together indirectly hold all of the equity interests of the Target, and have the ability to indirectly control the Target. Accordingly, the Proposed Transaction amounts to a concentration within the meaning of Article 3(1)(b) of Council Regulation (EC) No 139/2004 of 20 January 2004 (the EUMR).

Founded in 1965 by an act of the provincial legislative body of the Province of Québec (Canada), CDPQ is a long-term institutional investor that manages funds of its depositors, primarily comprised of public and parapublic pension and insurance plans from Québec.

ENGIE is a French global energy company active throughout the energy-value chain in the fields of natural gas, electricity and energy services. ENGIE is a limited liability company incorporated under French law, duly registered before the French Commercial Registry of Nanterre under the number 542 107 651. ENGIE is listed on NYSE Euronext Paris and Euronext Brussels.

The Target owns and operates two pumped storage electricity assets in Wales (the UK) and is active in the production and wholesale supply of electricity in Great Britain.

Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË - Tel. +32 22991111

Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË - Tel. +32 22991111