Document ID: 32016M7900
Language: ENG

<table><tr><td><p><span><img/></span></p></td><td><p><span>EUROPEAN COMMISSION</span></p></td></tr></table>
Brussels, 22.01.2016
C(2016) 427 final
<table><tr><td><p/></td><td><p><span>To the notifying parties:</span></p></td></tr></table>
Dear Sirs,
Subject : Case M.7900 - CVC CAPITAL PARTNERS / USS WAY LP / MOTO HOLDINGS 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
1. On 18 December 2015 , the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking CVC Capital Partners SICAV-FIS S.A. ("CVC Group", Luxembourg) and the Universities Superannuation Scheme Limited ("USS", th e United Kin gdom) acquire within the meaning of Article 3(1 )( b) of the Merger Regulation joint control of the undertaking Moto Holdings Limited (the "Target", the United Kingdom) by way of purchase of shares .
2. The business activities of the undertakings concerned are:
– for CVC Group: advice to and management of investment funds;
– for USS: acting as the sole corporate trustee of the Universities Superannuation Scheme, which is one of the largest private sector pension funds in the UK. The scheme administers the principal pension scheme for academic and comparable staff in UK universities and other higher education and research institutions;
– for the Target: operation of motorway service areas in the UK under the brand name “ moto ”. 3
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 ( b ) 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
(signed)
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 438 , 30.12.2015 p. 7.
(4) OJ C 366, 14.12.2013, p. 5 .
</note>