The AdC has announced on its website that it has decided “not to oppose the concentration operation” in question, stating that “this does not pose significant barriers to effective competition in the national market or a substantial part of it.”
This concerns the acquisition by IIP Amaxi of exclusive control over DIF Participations 4 Luxembourg S.à.r.l. (DIF 4) and Fados II.
IIP Amaxi is “an investment company indirectly controlled by the First Sentier Group (FSG), a global investment group,” according to AdC.
In Portugal, FSG holds “exclusive control over Grupo Finerge in the energy sector, Magestop, which is responsible for the operation and maintenance of two biomass plants, and Novae Investments, S.A., a holding company whose sole asset is AEDL — Autoestradas do Douro Litoral, S.A., operating the Douro Litoral Concession, including three highways (A41, A32, and A43).”
The acquired companies, DIF 4 and Fados II, control “Auto-Estradas Norte Litoral — Sociedade Concessionária — AENL, S.A., managing the Norte Litoral Concession with two highways (A27 and A28), and Autoestradas do Algarve — Via do Infante — Sociedade Concessionária — AAVI, SA, managing the Algarve Concession with one highway (A22), as well as Algarve International B.V., a financing vehicle for AAVI.”
