Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERG ER-REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 11.10.2019  
C(2019 ) 7469 final  
PUBLIC VERSION  
To the notifying party  
Subject : Case M. 9504  – BLACKSTONE  / CRH (EUROPEAN DISTRIBUTION 
BUSINESS)  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 13 September 2019 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which The 
Blackstone Group Inc. (“Blackstone”, United States) acquire s within the meaning of 
Article 3(1)(b) of the Merger Regulation sole control of CRH ’s European distribution 
business , including Paulsen & Eckhart GmbH, Paulsen & Braeuniger GmbH, August 
Wollschläg er & Co GmbH, Bergmann & Franz Nachf. GmbH & Co.KG, Andreas 
Paulsen GmbH, CRH Betonholding GmbH, D.F. Liedelt Heizungs - und Sanitär 
Grosshandels GmbH, Bauking AG (Germany), Quester Baustoffhandel GmbH 
(Austria), Heumatrans NV, Jeca BVBA, Lambrechts NV, BMB  Bouwmaterialen 
BVBA, Sax Sanitair NV, Schrauwen Sanitaire en Verwarming NV (Belgium), BMN 
Bowmaterialenhandel B.V. (the Netherlands), Cimentos Estrada Perdra S.G.P.S. 
Limitada (Portugal), CRH Normandie Distribution SAS, CRH France Distribution 
SAS (France ), and of CRH plc (“CRH”, Ireland) . The concentration is accomplished 
by way of  purchase of shares .3 
2. The business activities of the undertakings concerned are:  
 for Blackstone: global alternative asset management ; 
 for CRH European distribution business: distribution of building, sanitary, 
heating and plumbing materials through general builders merchants, specialist 
builders merchants, as well as DIY stores.  
                                                 
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 ( the ‘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 318, 23.9.2019 , p. 18. 

2 3. After examination of the notification, the European Commission has concluded that 
the notified oper ation falls within the scope of the Merger  Regulation  and of 
paragraph 5(c) 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 si mplified 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  Regulati on and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Cecilio MADERO VILLAREJO  
Acting Director -General  
 
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .