Prior notification of a concentration (Case M.7760 — Triton/KKR/EM) — Candidate case for simplified procedure (Text with EEA relevance)
Date: 2015-12-09
Institutions: European Commission
Subjects: carriage of goods, carrier, economic concentration, investment company, maritime transport, merger control








C_2015408EN.01000501.xml










9.12.2015   


EN


Official Journal of the European Union


C 408/5





Prior notification of a concentration
(Case M.7760 — Triton/KKR/EM)
Candidate case for simplified procedure
(Text with EEA relevance)
(2015/C 408/08)






1.


On 1 December 2015, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which Embarcadero Maritime LLC (‘EM’, Marshall Islands), ultimately controlled by KKR &Co LP (‘KKR’, USA) and Nordic Tankers A/S (‘NT’, Denmark), ultimately controlled by Triton Managers III Limited and TTF III Limited (‘Triton’, Jersey), acquire joint control of a newly created joint venture (the ‘JV’) by way of purchase of shares (the ‘Transaction’).










2.


The business activities of the undertakings concerned are:






—


Triton is a group of independent European private equity funds and companies. Triton is dedicated to investing in medium-sized businesses headquartered in Northern Europe, with a focus on businesses in three core sectors: Business Services, Industrials and Consumer/Health.










—


NT is a fully integrated shipping company active in the transport of specialized liquid products in bulks. The products NT carries range from edible oils, acids, chemicals and other specialised products to lubricating oils and petroleum products.










—


KKR is a global investment firm, which offers a broad range of alternative asset funds and other investment products to investors and provides capital markets solutions for the firm, its portfolio companies and other clients.










—


EM focusses on distressed opportunities in the second-hand vessel segment. EM operates a fleet of 50 vessels in the container, chemical, product and LPG sectors.










—


Through the JV, EM and NT will combine their ice classed stainless steel chemical tankers business in Europe, with focus on North-Western Europe and the Baltic region.














3.


On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the 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 Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice.










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 M.7760 — Triton/KKR/EM, to the following address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË










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

(2)  OJ C 366, 14.12.2013, p. 5.