#32026M12309EU Commission Approves Concentration: Eurazeo / Eiffel / Segula (Case COMP/M.12309)

On 18 March 2026, the European Commission issued a formal decision declaring the proposed concentration involving Eurazeo, Eiffel Investment Group, and Segula Technologies compatible with the European common market. The case was reviewed under Council Regulation (EC) No 139/2004, the EU's primary merger control regulation, which grants the Commission authority to assess concentrations with an EU-wide dimension. The decision concludes that the transaction — whereby Eurazeo and Eiffel are acquiring joint or sole control over Segula, a French engineering and technology consulting group — does not significantly impede effective competition in the European Economic Area or any substantial part thereof. The Commission found no material competition concerns arising from the combination of these entities. Segula Technologies is a global engineering services firm specializing in automotive, aerospace, rail, energy, and digital sectors. Eurazeo is a major French private equity and investment group, while Eiffel Investment Group is a specialist asset management firm. The consolidation reflects ongoing M&A activity in the European engineering consultancy sector. The decision is legally binding and permits the parties to proceed with closing the transaction. Only the French-language version of the decision is authentic under EU procedural rules.

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