Prior notification of a concentration (Case M.9267 — KKR/Telepizza) — Candidate case for simplified procedure (Text with EEA relevance.)
Date: 2019-02-20
Institutions: European Commission
Subjects: catering industry, economic concentration, investment company, merger control








C_2019067EN.01000501.xml










20.2.2019   


EN


Official Journal of the European Union


C 67/5






Prior notification of a concentration
(Case M.9267 — KKR/Telepizza)
Candidate case for simplified procedure
(Text with EEA relevance)
(2019/C 67/04)

1.   
On 13 February 2019, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


KKR & Co. Inc. (‘KKR’, United States of America),










—


Telepizza Group, S.A. (‘Telepizza’, Spain).




KKR acquires within the meaning of Article 3(1)(b) of the Merger Regulation indirect sole control of the whole of Telepizza.
The concentration is accomplished by way of an acquisition of shares via a public tender offer.


2.   
The business activities of the undertakings concerned by the notified concentration are:






—


KKR is a global investment firm, which offers a broad range of alternative asset management services to public and private market investors and provides capital markets solutions for the firm, its portfolio companies and other clients,










—


Telepizza manages a network of fast-food restaurants, operated both through proprietary stores and through franchised stores, as well as food delivery services. In 2018, Telepizza and Pizza Hut International, LLC (‘Pizza Hut,’ part of the YUM! Group) announced a strategic deal and master franchise alliance, under which Telepizza’s network will expand to approximately 2 560 restaurants in 37 countries, largely concentrated in the Iberian Peninsula, Mexico, and Central and South America. The Telepizza/Pizza Hut transaction closed in December 2018.






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 the 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. The following reference should always be specified:
M.9267 — KKR/Telepizza
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:





Email: COMP-MERGER-REGISTRY@ec.europa.eu




Fax +32 22964301




Postal 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.