Raffles and Cinven: acquisition of Miller approved

Official publication has been made of the European Commission's approval, of 12 February 2021, and under Article 6(1)(b) of the EU Merger Regulation, the acquisition of Miller Insurance Services LLP of the UK (non-life insurance and reinsurance broking services):

by

Cinven Capital Management General Partner Limited of Guernsey (private equity business); and Raffles Private Holdings Limited, also of the UK (investment vehicle ultimately controlled by GIC Private Limited of Singapore, which manages a diverse portfolio of private equity global investments)

The Commission concluded that the proposed acquisition would raise no competition concerns because of the limited market position of Miller in the European Economic Area.