Prior notification of a concentration (Case M.8057 — Cinven/CPPIB/Hotelbeds Group) — Candidate case for simplified procedure (Text with EEA relevance)
Date: 2016-06-03
Institutions: European Commission
Subjects: economic concentration, merger control, tourism








C_2016197EN.01000801.xml










3.6.2016   


EN


Official Journal of the European Union


C 197/8





Prior notification of a concentration
(Case M.8057 — Cinven/CPPIB/Hotelbeds Group)
Candidate case for simplified procedure
(Text with EEA relevance)
(2016/C 197/08)






1.


On 27 May 2016, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the Fifth Cinven Fund, managed by Cinven Capital Management (V) General Partner Limited, which is part of the Cinven group (‘Cinven’, United Kingdom) and the Canada Pension Plan Investment Board (‘CPPIB’, Canada) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of the undertaking Hotelbeds Group (Spain) by way of purchase of shares.










2.


The business activities of the undertakings concerned are:
—   For Cinven: Cinven is a private equity business engaged in the provision of investment management and investment advisory services to a number of investment funds. The companies in Cinven’s portfolio are active in a wide range of sub-sectors, mainly business services, consumer, financial services, healthcare, industrials, technology, media and telecommunications.
—   For CPPIB: is an investment management organization that invests the funds of the Canada Pension Plan (CPP) and is based in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City and São Paulo. CPPIB is governed and managed independently from the CPP and at arm’s length from the Canadian Government. CPPIB principally invests in public equities, private equities, real estate, infrastructure and fixed income investments.
—   For the Hotelbeds Group: the Hotelbeds Group’s key areas of activity include a bedbank business, i.e. offering hotel rooms to the travel industry. In addition, it provides transfers, excursions and tours, meetings and events, visa outsourcing and cruise handling services. Its brands include Hotelbeds, Bedsonline, Destination Services, Pacific World and Intercruises.










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.8057 — Cinven/CPPIB/Hotelbeds Group, 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.