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2020
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25th March 2020
Competition & State Aid

Merger approval decisions published today

Six merger approval decisions made by the European Commission under Article 6(1)(b) of the Merger Regulation have been published in the Official Journal today.

 

Joint control over Argus by HG and GA

Acquisition for joint control over global commodities price reporting agency, Argus Media Limited by Hg Pooled Management and General Atlantic LLC has been approved by the European Commission.

HG is a British private equity firm that invests mainly in Europe in technology and technology enabled service business. GA is a global growth private equity firm based in the US that focuses on providing capital and strategic support for growth companies.

The Commission gave the go ahead for this operation because there are no horizontal overlaps or vertical links between the activities of the companies and therefore it found that no competition concerns were raised.

The Decision, now published in the Official Journal, can be accessed here.

 

Acquisition of publishing company Penguin Random House by German company 

Two weeks ago, the European Commission approved the acquisition of sole control over US publishing company Penguin Random House by the German company Bertelsmann SE & Co. KGaA (television and television production, trade publishing, magasine publishing, and music rights management services).

The Commission based its decision, made under the Merger Regulation, on the finding that the proposed acquisition would raise no competition concerns, because Bertelsmann already holds 75% of PRH and the transaction merely implements a transition from joint to sole control, without making significant modifications to pre-existing competition.

Read the decision in the Official Journal here.

 

Acquisition of Zayo by EQT and Colony Capital

In a decision made late last year, the Commission found that there were no competition concerns to prevent the approval of the acquisition of US-based Zayo Group Holding Inc (a provider of communications infrastructure services in North America and Europe) by investment firms: Luxembourgish company EQT Find Management S.à.r.l. and US company Colony Capital.

The decision made under the Merger Regulation is based on the limited overlap of the activities of the companies in question. The decision has now been published in the Official Journal can be accessed here

 

Acquisition of Mellanox by NVDIA

The acquisition of Mellanox Technologies, Ltd. of Israel by NVDIA Corporation of the US was approved by the European Commission at the end of last year.

Mellanox supplies network interconnect products and solutions that facilitate efficient data transmission within datacentres, based on the Ethernet and InfiniBand protocols. NVIDIA supplies visual computing based on graphics processing units, as well as accelerated computing platforms for gaming, professional visualisation, datacentre and automotive applications.

The Commission had concluded that the proposed acquisition does not raise competition concerns because the companies mainly supply complementary products and they will not be able to leverage their respective positions into neighbouring markets.

Read the now published decision in the Official Journal here.

 

Joint venture by Toyota Financial Services Corporation and Mitsui & Co 

A joint venture by Toyota Financial Services Corporation (global financial services) and Mitsui & Co (global trader), both of Japan, had been given approval to go ahead by the European Commission earlier this month.

The joint venture, KINTO Brasil Serviços de Mobilidade Ltda, will be active in the supply of mobility services to end-customers in Brazil.

The Commission concluded that the proposed acquisition would raise no competition concerns under the Merger Regulation, as the joint venture has no actual or foreseen activity within the European Economic Area.

The approval decision has been published in the Official Journal and can be accessed here.

 

Joint control over Zaragoza Properties by Generali Shopping Centre Fund and Union Investment Real Estate GmbH

The European Commission approved, last week, the acquisition of the Spanish undertaking Zaragoza Properties SOCIMI, S.A, active in the ownership, management and rental of the Puerto Venezia shopping centre and retail park located in Zaragoza, by Luxembourgish investment fund, Generali Shopping Centre Fund S.C.S. SICAV-SIF, and German  real estate investment firm, Union Investment Real Estate GmbH.

The Commission concluded that the transaction does not raise  competition concerns because the overlaps between the companies’ activities in the real estate sector in Spain are limited.

Find the decision, which has been published in the Official Journal, here.

 

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