Document ID: 32017M8448
Language: ENG

<table><tr><td><p><span><img/></span></p></td><td><p><span>EUROPEAN COMMISSION</span></p></td></tr></table>
Brussels, 24.5.2017
C(2017) 3708 final
To the notifying party:
Subject : Case M. 8448 - HELLMAN & FRIEDMAN / ALLFUNDS BANK 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 28 April 2017, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertaking Hellman & Friedman Investors VIII, L.P., controlled by Hellman & Friedman LLC ("H&F", United States) , acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole company Allfunds Bank, S.A. ("AFB", Spain) by way of purchase of shares. 3
2. The business activities of the undertakings concerned are:
· for H&F: private equity firm with investments in a variety of sectors;
· for AFB: logistic platform for the distribution of mutual funds.
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 145 , 09.05.2017, p. 11.
(4) OJ C 366, 14.12.2013, p. 5 .
</note>