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MACQUARIE / ABERDEEN / AIP / CERTAIN DIGI ASSETS IN SPAIN

M.11518

MACQUARIE / ABERDEEN / AIP / CERTAIN DIGI ASSETS IN SPAIN
July 8, 2024
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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:

− Sota Investments (UK) Holdco Limited (Macquarie, United Kingdom, ultimately controlled by Macquarie Group Limited, Australia, Macquarie Group);

− Aberdeen Infrastructure (Holdco) IV-A, B.V. and Aberdeen Infrastructure (Holdco) IV-B, B.V. (abrdn, United Kingdom, ultimately controlled by abrdn plc, United Kingdom, abrdn Group);

− IAE-1 Holdco 4 Ltd. (AIP, United Kingdom, ultimately controlled by Mr. Surinder Singh Toor, United Kingdom, AIP Group); and

− A Fibre-to-the-home (FTTH) network from Digi Spain Telecom, S.L.U. (Digi) (the Assets, Spain).

The notified transaction consists of the proposed adquisition of joint control within the meaning of Article 3(1)(b) of the Council Regulation 139/2004 of 10 January 2004 on the control of concentrations between undertakings (the EUMR), by Macquarie, abrdn and AIP over the Assets, which will take place by means of an asset purchase agreement entered into between a newly-created joint controlled subsidiary of the three investors, Sota Investments (Spain) Opco, S.L.U. (Sota InfraCo) and Digi (the Proposed Transaction).

Sota InfraCo -with the support of Pentacom Investments (Spain) Opco, S.L.U. (Onivia), currently jointly controlled by Macquarie Group, abrdn Group and AIP Group- will operate the Assets to provide wholesale bitstream internet access services to Internet Service Providers so that these can provide in turn retail internet services to final customers. Sota InfraCo will be a neutral infrastructure operator providing wholesale broadband internet access services in Spain.

The business activities of the undertakings concerned are:

− Macquarie Group is a global investment bank and financial services provider active in a diverse range of businesses, including investing in a wide range of sectors such as resources and commodities, energy, financial institutions, infrastructure and real estate.

− Abrdn Group is an asset manager that has under management diversified asset classes namely equities, fixed income, property, infrastructure and private equity. It is active across a wide range of sectors, including transportation, social infrastructure, waste and water treatment and clean energy production networks; - AIP Group is an independent asset management company dedicated to executing and managing mid-market infrastructure investments.

− AIP is active across the utilities, energy, renewables, digital and transportation sectors.; and

− The Assets comprise a FTTH network formed by a total of 6,000,000 building units (BUs) across 12 provinces in Spain:

• 4,250,000 of these BUs are already rolled out and connected by Digi. These BUs are currently being used by Digi exclusively for the provision of retail internet access services in Spain to its own retail customers; and

• 1,750,000 of these BUs are currently being rolled out by Digi and will be completely rolled out and connected by 31 March 2027.

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

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

EUC

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