# C_2010199EN.01001901.xml

| 21.7.2010 | EN | Official Journal of the European Union | C 199/19 |
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21.7.2010

EN

Official Journal of the European Union

C 199/19

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Prior notification of a concentration

(Case COMP/M.5752 — Fortress Investment Group/Residential Capital Residential mortgage business)

Candidate case for simplified procedure

(Text with EEA relevance)

2010/C 199/05

| 1. | On 12 July 2010, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Fortress Investment Group LLC (United States) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of parts of the undertaking Residential Capital LLC (the remaining European residential mortgage platforms of Residential Capital LLC in Germany, the Netherlands and the UK and portfolios of residential mortgage assets) wholly owned by GMAC Financial Services (United States) by way of purchase of assets. |
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1.

On 12 July 2010, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Fortress Investment Group LLC (United States) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of parts of the undertaking Residential Capital LLC (the remaining European residential mortgage platforms of Residential Capital LLC in Germany, the Netherlands and the UK and portfolios of residential mortgage assets) wholly owned by GMAC Financial Services (United States) by way of purchase of assets.

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| 2. | The business activities of the undertakings concerned are:






  — | for Fortress Investment Group LLC: to raise, invest and manage private equity funds, credit funds and liquid hedge funds, |
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2.

The business activities of the undertakings concerned are:

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for Fortress Investment Group LLC: to raise, invest and manage private equity funds, credit funds and liquid hedge funds,

| — | for Residential Capital LLC: mortgage origination from individual consumers; raising finance on the secondary market through securitizations and whole loan sales of mortgages to institutional investors; servicing of its mortgages including those sold/securitized on the secondary market. |
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for Residential Capital LLC: mortgage origination from individual consumers; raising finance on the secondary market through securitizations and whole loan sales of mortgages to institutional investors; servicing of its mortgages including those sold/securitized on the secondary market.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the EC Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the EC Merger Regulation (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice. |
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3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the EC Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the EC Merger Regulation (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

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| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number COMP/M.5752 — Fortress Investment Group/Residential Capital Residential mortgage business, to the following address:





  European Commission |
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| Directorate-General for Competition |
| Merger Registry |
| J-70 |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number COMP/M.5752 — Fortress Investment Group/Residential Capital Residential mortgage business, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

J-70

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

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(1)  OJ L 24, 29.1.2004, p. 1 (the ‘EC Merger Regulation’).

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(2)  OJ C 56, 5.3.2005, p. 32 (‘Notice on a simplified procedure’).

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