Decision Nº M/09/006 from Competition and Consumer Protection Commission, 2009-03-19

Decision NumberM/09/006
PartiesMubadala Development Company PJSC,SR Technics Switzerland AG
StatusCleared (Phase 1)
Merger Notification No. M/09/006 – Mubadala/SR Technics 1 of 4
DETERMINATION OF MERGER NOTIFICATION M/09/006 –
Mubadala/SR Technics
Section 21 of the Competition Act 2002
Proposed acquisition by Mubadala Development Company PJSC of
Takeoff Luxco 1 S.à.r.l., th e ul timate par ent un dertaking of SR
Technics Switzerland AG
19 March 2009
Introduction
1. On 11 March 2009, in accordance with section 18(1) of the
Competition Act 2002 (“the Act”), the Competition Authority (“the
Authority”) received a not ification of a propos ed transaction whereby
Mubadala Development Company P JSC (“Mubadala”) would acquire
sole control of Takeoff Luxco 1 S.à.r.l. (“Takeoff”), the ultimate parent
undertaking of SR Technics Switzerland AG (“S R Technics”).
2. SR Technics is a major provider of aircraft maintenance, repair and
overhaul services for commercial aircraft and p rovides component
solutions and engine technical services worldw ide including the State.
The Undertakings Involved
The Acquirer
3. Mubadala is an investment compa ny based in Abu Dhabi, United Arab
Emirates. Mubadala manages a multi-billion dollar portfolio of local,
regional and international investments. It does this either
independently or in partnership w ith leading internation al
organisations.
4. Mubadala manages investments in a variety of industries, including
energy, utilities, technology, real estate and healthcare. Notably,
Mubadala owns 100% of Abu Dhabi Aircraft Technologies PJSC, a
provider of aircraft maintenance, repair and overhaul services in the
United Arab Emirates, and a jointly controlling (35%) interest in
Piaggio Aero Industries SpA which is active in aircraft manufacture and
maintenance in Italy.
5. Mubadala has a jointly controlling interest in LeasePlan Corporation
N.V. (“Lease Plan”) and carries on business in the State through
LeasePlan Ireland, a subsidiary of LeasePlan. LeasePlan and LeasePlan
Ireland are involved in fleet and vehicle management (exclud ing
aircraft), mainly through operational leasing .
6. Mubadala’s sole shareholder, the Emirate of Abu Dhabi, owns Et ihad
Airways (the nat ional carrier of the Emirate of Abu Dhabi) and
operates, through Abu Dhabi Airpo rts Company PJSC, th e airports of
Abu Dhabi and Al Ain in t he United Arab Emirates. It also has int erests
in Abu Dhabi Av iation (a publicly listed company which is a helic opter

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