Prior notification of a concentration (Case M.7874 — Warburg Pincus/General Atlantic/Unicredit/Pioneer US) — Candidate case for simplified procedure (Text with EEA relevance)
Date: 2016-03-05
Institutions: European Commission
Subjects: bank, economic concentration, financial services, investment company, merger control








C_2016089EN.01001201.xml










5.3.2016   


EN


Official Journal of the European Union


C 89/12





Prior notification of a concentration
(Case M.7874 — Warburg Pincus/General Atlantic/Unicredit/Pioneer US)
Candidate case for simplified procedure
(Text with EEA relevance)
(2016/C 89/15)






1.


On 29 February 2016, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which affiliates of Warburg Pincus LLC (‘Warburg Pincus’, United States), affiliates of General Atlantic LLC (‘General Atlantic’, United States) and Unicredit S.p.A. (‘Unicredit’, Italy) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control over Pioneer Investment Management USA Inc. and its subsidiaries in the United States (‘Pioneer US’, United States) by way of purchase of shares. Pioneer US is currently a wholly-owned subsidiary of Unicredit.










2.


The business activities of the undertakings concerned are:






—


Warburg Pincus is a global private equity firm, active through its portfolio companies in a variety of sectors, including energy, financial services, healthcare and consumer, industrial and business services, and technology, media and telecommunications,










—


General Atlantic is a private equity firm, active through its portfolio companies in a variety of sectors, including business services, retail and consumer, financial services, healthcare, internet and technology,










—


Unicredit is the Italian parent company of a banking group providing banking and financial services in Italy and abroad,










—


Pioneer US is an asset management business with operations in the US and Canada.














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 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 M.7874 — Warburg Pincus/General Atlantic/Unicredit/Pioneer US, 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.