Commission Decision of 21/11/2006 declaring a concentration to be compatible with the common market (Case No IV/M.4393 - ISTITHMAR / MUBADALA / DAE / SR TECHNICS) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) Brussels, 21/11/2006 SG-Greffe(2006) D/206991 To the notifying party Dear Madam(s) and/or Sir(s), Subject: Case No. COMP/M.4393 – Istithmar / Mubadala / DAE / SR Technics Notification of 13/10/2006 pursuant to Article 4 of Council Regulation (EC) No. 139/2004 [1] Publication in the Official Journal of the European Union No. C 256 of 24/10/2006, page 12 1.
On 13/10/2006, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which the undertakings Istithmar PJSC (“Istithmar”, United Arab Emirates), belonging to the Dubai World group, Mubadala Development Company PJSC (“Mubadala”, United Arab Emirates) and Dubai Aerospace Enterprise (DAE) Limited (“DAE”, United Arab Emirates) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking SR Technics Holding AG (“SR Technics”, Switzerland) by way of purchase of shares.
2. The business activities of the undertakings concerned are : - for Istithmar : alternative investment house focusing on private equity, real estate and other alternative investments; - for Mubadala : direct principal investments in a wide range of strategic sectors; - for DAE : holding company for manufacture and services companies; - for SR Technics: maintenance, repair and overhaul (MRO) services for commercial aircraft. 3. 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 c of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No.
139/2004 [2]. 4. 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 [1] OJ L 24, 29.1.2004 p. 1 [2] OJ C 56, 05.3.2005 p.32 --------------------------------------------------