Prior notification of a concentration (Case M.9902 – HPS/Temasek/Cypress Creek Holdings) Candidate case for simplified procedure (Text with EEA relevance) 2020/C 299/09
Date: 2020-09-09
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, investment company, merger control, solar energy








C_2020299EN.01000901.xml










9.9.2020   


EN


Official Journal of the European Union


C 299/9






Prior notification of a concentration
(Case M.9902 – HPS/Temasek/Cypress Creek Holdings)
Candidate case for simplified procedure
(Text with EEA relevance)
(2020/C 299/09)

1.   
On 1 September 2020, 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:






—


HPS Investment Partners, LLC (‘HPS’, USA),










—


Temasek Holdings (Private) Limited (‘Temasek’, Singapore),










—


Cypress Creek Holdings, LLC (‘Cypress Creek Holdings’, USA).




HPS and Temasek acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Cypress Creek Holdings.
The concentration is accomplished by way of purchase of securities.


2.   
The business activities of the undertakings concerned are:






—


for HPS: HPS is an investment firm that manages various strategies across the capital structure that include syndicated leveraged loans and high yield bonds to privately negotiated senior secured debt and mezzanine investments, asset-based leasing and private equity,










—


for Temasek: Temasek is an investment company; Temasek’s portfolio covers a broad spectrum of industries: financial services; telecommunications, media & technology; transportation & logistics; consumer; real estate; energy & resources; life sciences and agribusiness,










—


for Cypress Creek Holdings: Cypress Creek Holdings is a utility-scale solar developer and long-term owner and operator of solar projects in the USA.






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.9902 – HPS/Temasek/Cypress Creek Holdings
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.