Prior notification of a concentration

(Case M.11829 – DIF / VIRYA / DHYVE JV)

Candidate case for simplified procedure

(Text with EEA relevance)

(C/2025/3957)

On 3 July 2025, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).

This notification concerns the following undertakings:

—

DIF Management B.V (‘DIF’, Netherlands), ultimately controlled jointly by CVC Capital Partners plc (‘CVC’, Jersey, United Kingdom), through CVC Advisers (Luxembourg) S.a.r.l. (Luxembourg), Stichting Administratiekantoor DIF Management Holding, PartnerCo B.V. and PartnerCo 2 B.V. (all from the Netherlands),

—	Virya Energy NV (‘Virya’, Belgium), jointly controlled by the Colruyt Group NV (‘Colruyt’, Belgium), and Korys Investments NV (‘Korys’, Belgium), and

—	Dhyve B.V. (‘Dhyve’, Netherlands).

DIF and Virya will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Dhyve.

The concentration is accomplished by way of purchase of shares.

The business activities of the undertakings concerned are the following:

—	DIF is an infrastructure equity fund manager with assets under management,

—

Virya is active in sustainable green energy production and services, as well as in hydrogen production and distribution. Virya’s co-controlling parents are Colruyt, a retail group with a diverse portfolio of food and non-food formats, in Belgium, and Korys, an investment company of the Colruyt family active in the consumer products, energy transition and biosciences markets, and

—	Dhyve is active in the development of green hydrogen plants and green hydrogen production through the VoltH2 group.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.

Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.11829 – DIF / VIRYA / DHYVE JV

Observations can be sent to the Commission by email or by post. Please use the contact details below:

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

(1) OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2) OJ C 160, 5.5.2023, p. 1.