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Case M.8536 - ATLANTIA / ABERTIS INFRAESTRUCTURAS

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Case M.8536 - ATLANTIA / ABERTIS INFRAESTRUCTURAS EUROPEAN COMMISSION DG Competition Case M.8536 - ATLANTIA / ABERTIS INFRAESTRUCTURAS Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) NON-OPPOSITION Date: 13/10/2017 In electronic form on the EUR-Lex website under document number 32017M8536 EUROPEAN COMMISSION Brussels, 13.10.2017 C(2017) 6988 final In the published version of this decision, some information has been omitted pursuant to Article 17(2) of Council Regulation (EC) No 139/2004 PUBLIC VERSION concerning non-disclosure of business secrets and other confidential information. The omissions are shown thus […]. Where possible the information omitted has been replaced by ranges of figures or a general description. To the notifying party: Dear Sir or Madam, Subject: Case M.8536 – Atlantia/Abertis Infraestructuras Commission decision pursuant to Article 6(1)(b) of Council Regulation No 139/20041 and Article 57 of the Agreement on the European Economic Area2 1 OJ L 24, 29.1.2004, p. 1 (the "Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by "internal market". The terminology of the TFEU will be used throughout this decision. 2 OJ L 1, 3.1.1994, p. 3 (the "EEA Agreement"). Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË Tel: +32 229-91111. Fax: +32 229-64301. E-mail: [email protected]. Table of Contents 1. THE PARTIES ............................................................................................................ 4 1.1. Atlantia .............................................................................................................. 4 1.1.1. Atlantia's activities ............................................................................... 4 1.1.2. Control over Atlantia ........................................................................... 4 1.2. Abertis ............................................................................................................... 8 1.2.1. Abertis' activities ................................................................................. 8 1.2.2. Control over Areamed ......................................................................... 9 2. THE TRANSACTION .............................................................................................. 10 3. EU DIMENSION ...................................................................................................... 10 4. MARKET DEFINITION .......................................................................................... 11 4.1. Toll motorway concessions ............................................................................. 11 4.1.1. The grant of toll motorway concessions ............................................ 11 4.1.2. The management of transport infrastructure ..................................... 17 4.2. Food services concessions ............................................................................... 18 4.2.1. The grant of food services sub-concessions on motorway service areas ....................................................................................... 19 4.2.2. The provision of concession food services on motorway service areas ....................................................................................... 23 4.3. The provision of ETS / distribution of on-board equipment ........................... 26 4.3.1. Regulatory framework ....................................................................... 26 4.3.2. Product market definition .................................................................. 26 4.3.3. Geographic market definition ............................................................ 27 4.3.4. Conclusion on market definition ....................................................... 28 4.4. The provision of equipment or services for intelligent transport systems ............................................................................................................ 28 4.4.1. Regulatory framework ....................................................................... 28 4.4.2. Product market definition .................................................................. 29 4.4.3. Geographic market definition ............................................................ 29 4.4.4. Conclusion on market definition ....................................................... 30 4.5. The construction of infrastructure ................................................................... 30 4.5.1. Regulatory framework ....................................................................... 30 4.5.2. Product market definition .................................................................. 31 4.5.3. Geographic market definition ............................................................ 32 4.5.4. Conclusion on market definition ....................................................... 32 5. COMPETITIVE ASSESSMENT .............................................................................. 33 2 5.1. Horizontal effects ............................................................................................ 33 5.1.1. The grant of toll motorway concessions ............................................ 33 5.1.2. The transport on toll motorways ........................................................ 38 5.1.3. The provision of concession food services on motorway service areas ....................................................................................... 39 5.1.4. The provision of ETS / distribution of OBE...................................... 42 5.1.5. The provision of ITS equipment or services ..................................... 43 5.2. Vertical effects ................................................................................................. 44 5.2.1. Legal framework................................................................................ 44 5.2.2. Overview of the vertically affected markets...................................... 44 5.2.3. The grant of food services sub-concessions and the provision of concession food services on motorway service areas ................... 45 5.2.4. The transport on toll motorways and the provision of ETS / distribution of OBE ........................................................................... 53 5.2.5. The provision of ITS equipment or services and the transport on toll motorways .............................................................................. 57 5.2.6. The provision of ITS equipment or services and the provision of ETS / distribution of OBE ............................................................. 59 5.2.7. The construction of infrastructure and the transport on toll motorways ......................................................................................... 60 5.3. Conglomerate effects ....................................................................................... 61 5.3.1. Legal framework................................................................................ 62 5.3.2. Atlantia's views .................................................................................. 62 5.3.3. Commission's assessment .................................................................. 62 5.4. Coordinated effects .......................................................................................... 66 5.4.1. Atlantia's views .................................................................................. 66 5.4.2. Commission's assessment .................................................................. 66 5.4.3. Conclusion ......................................................................................... 66 6. CONCLUSION ......................................................................................................... 67 3 (1) On 08 September 2017, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Atlantia S.p.A. ("Atlantia", Italy) acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control over Abertis Infraestructuras S.A. ("Abertis"), by way of a public offer announced by Atlantia on 15 May 2017 and authorised on 09 October 2017 (the "Transaction").3 Atlantia and Abertis are designated hereinafter as the "Parties". 1. THE PARTIES 1.1. Atlantia 1.1.1. Atlantia's activities (2) Atlantia, a company listed on the Italian Stock Exchange, is a holding company mainly active in the toll motorway concessions and airport infrastructure4 sectors. (3) With regard to toll motorway management in the EEA, Atlantia is active (i) in Italy, through in particular Autostrade per l'Italia S.p.A ("ASPI"), which manages approximately 3 000 km of toll motorways, and (ii) more marginally in Poland, through Stalexport Autostrada Małopolska S.A., which manages approximately 60 km of toll motorways. (4) In addition, Atlantia operates electronic payment systems, through Telepass S.p.A. ("Telepass"), and is active in the provision of intelligent transport systems,5 through Autostrade Tech S.p.A. ("Autostrade Tech"). (5) Finally, Atlantia provides construction and maintenance works, through Pavimental S.p.A. ("Pavimental"), and engineering services, through Spea Engineering S.p.A. ("Spea"). Both companies mainly operate on an infra-group basis. 1.1.2. Control over Atlantia 1.1.2.1.
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