SFPIM Acquires Sole Control Over Lineas Group NV

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.

M.12326 - SFPIM / LINEAS SECTION 4 Description of the concentration This notification concerns the acquisition of sole control, within the meaning of Article 3(1), point (b) of the Merger Regulation, over Lineas Group NV ("Lineas") by Société fédérale de participations et d'investissement SA - Federale participatie -en investeringsmaatschappij NV ("SFPIM") through the subscription of shares (the "Proposed Transaction"). In the context of the Proposed Transaction, SFPIM is acting on behalf of the Belgian State under a "delegated assignment". SFPIM is a public interest limited liability company registered in Belgium and fully owned by the Belgian State. Lineas is headquartered in Belgium and is ultimately controlled by Argos Wityu, headquartered in France. The business activities of the undertakings concerned are:

1. SFPIM has three core activities: (i) holding company participations in public and
   private enterprises, acting out of its own resources, (ii) investment in enterprises with an important social value in one of the priority sectors, and (iii) contribution to policies of the Belgian federal government and implementation of projects on its behalf, pursuant to specific mandates from the Belgian State ("delegated assignments"). SFPIM's subsidiaries are primarily active in Belgium. A large majority of SFPIM's revenue (including the revenues of its controlled subsidiaries) are generated within the EU, with most revenues earned in Belgium.

2. Lineas is a rail freight transport operator. Its core business is the provision of traction
   services across Europe.

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