EN

Case No COMP/M.4946 - GOLDMAN SACHS / SINTONIA SPA / SINTONIA

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 05/12/2007

In electronic form on the EUR-Lex website under document number 32007M4946

Office for Official Publications of the European Communities L-2985 Luxembourg

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 05.12.2007

SG-Greffe(2007) D/207536

PUBLIC VERSION

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

To the notifying parties:

Dear Sirs,

1.On 29.10.2007 the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertakings The Goldman Sachs Group, Inc. (ìGoldman Sachsî, USA) and Sintonia S.p.A. (ìSintonia S.p.Aî, Italy belonging to the Benetton group) acquire, by way of purchase of shares, within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking Sintonia S.A. (ìSintoniaî, Italy), with the exception of the undertakings currently controlled by Sintonia, which will remain under the sole control of Sintonia S.p.A.

The business activities of the undertakings concerned are :

ññ for Goldman Sachs: global investment banking, securities and investment management firm that provides a wide range of banking, securities and investment services worldwide.

1OJ L 24, 29.1.2004 p. 1

Commission europÈenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.

ññ for undertaking Sintonia: the Benetton groupís holding company for participations in undertakings active in the infrastructure sector.

2.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 and of paragraph 5, subparagraph b of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No. 139/2004.

For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EC) No. 139/2004.

For the Commission signed Philip LOWE Director General

2OJ C 56, 05.3.2005 p.32

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