Document ID: 32017M8620
Language: ENG

<table><tr><td><p><span><img/></span></p></td><td><p><span>EUROPEAN COMMISSION</span></p></td></tr></table>
Brussels, 4.10.2017
C(2017) 6817 final
To the notifying parties:
Subject : Case M.8620 - KKR / WBA / PHARMERICA Commission decision pursuant to Article 6(1 )( b) of Council Regulation (EC) No 139/2004 1 and Article 57 of the Agreement on the European Economic Area 2
Dear Sir or Madam,
1. On 30 August 2017 , the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings KKR & Co. L.P. (“KKR”, USA) and Walgreens Boots Alliance, Inc. (“WBA”, USA) acquire within the meaning of Article 3 of the Merger Regulation joint control of the undertaking PharMerica Corporation (“ PharMerica ”, USA) by way of a purchase of shares . 3
2. The business activities of the undertakings concerned are:
- KKR is a global investment firm which offers a broad range of alternative asset management services to public and private market investors and provides capital markets solutions for the firm, its portfolio companies, and clients.
- WBA is a global pharmacy-led, health and wellbeing enterprise, operating retail pharmacies across the United States and Europe, as well as a global pharmaceutical wholesale and distribution network, with distribution centres delivering to pharmacies, doctors, health centres and hospitals in more than 20 countries.
- PharMerica provides long term care pharmacy, infusion therapy, and specialty pharmacy services in the United States.
3. After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5 ( a ) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 . 4
4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1 )( b) of the Merger Regulation and Article 57 of the EEA Agreement .
For the Commission
( S igned) Johannes LAITENBERGER Director - General
<note>
(1) OJ L 24, 29.1.2004, p. 1 ( the ' Merger Regulation ' ). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ( ' TFEU ' ) has introduced certain changes, such as the replacement of ' Community ' by ' Union ' and ' common market ' by ' internal market ' . The terminology of the TFEU will be used throughout this decision.
(2) OJ L 1, 3.1.1994, p. 3 ( the ' EEA Agreement ' ).
(3) Publication in the Official Journal of the European Union No C 294 , 05.09.2017 , p. 7 .
(4) OJ C 366, 14.12.2013, p. 5 .
</note>