Prior notification of a concentration (Case M.10586 – MGL / MSP / O’CONNOR / MCLAREN RACING) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 120/07
Date: 2022-03-15
Institutions: Directorate-General for Competition, European Commission
Subjects: consultancy, economic concentration, holding company, investment company, merger control, motor car, professional sport, sporting event








C_2022120EN.01002801.xml










15.3.2022   


EN


Official Journal of the European Union


C 120/28






Prior notification of a concentration
(Case M.10586 – MGL / MSP / O’CONNOR / MCLAREN RACING)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 120/07)

1.   
On 7 March 2022, 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:






—


UBS O’Connor LLC (‘O‘Connor’, United States), controlled by UBS AG (‘UBS’, Switzerland);










—


MSP Racing Holdings, L.P. (‘MSP’, United States);










—


McLaren Group Limited (‘MGL’, United Kingdom), controlled by Bahrain Mumtalakat Holding Company B.S.C.(c) (‘Mumtalakat, Bahrain’);










—


McLaren Racing Limited (the ‘JV’, United Kingdom).




O’Connor, MSP and MGL (together, the ‘Notifying Parties’) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the JV (the ‘Transaction’).
The concentration is accomplished by way of contract or any other means.


2.   
The business activities of the undertakings concerned are:






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for O’Connor: a US-based investment adviser providing investment advisory services to its clients, which include investment funds and sophisticated investors,










—


for MSP: a US-based privately held investment advisory firm which manages investments in professional sports teams, leagues, and businesses in the sports ecosystem,










—


for MGL: holding company for the business activities of the McLaren group. The McLaren group’s business comprises two key divisions, i.e. (i) McLaren Automotive Limited, a provider of luxury high performance cars; and (ii) the JV,










—


for the JV: the development, production, racing and marketing in connection with its participation in Formula 1 motorsport. In addition to its Formula 1 business, McLaren Racing is also active in other motorsport leagues such as the US-based IndyCar Series where McLaren Racing currently cooperates with, and provides technical support to, the US racing team Arrow McLaren SP.






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 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.10586 – MGL / MSP / O’CONNOR / MCLAREN RACING
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.