Prior notification of a concentration (Case M.11381 – ALLIANZ / PIMCO / SILVER POINT / INCORA) – Candidate case for simplified procedure
Date: 2024-01-31
Institutions: Directorate-General for Competition, European Commission
Subjects: consultancy, credit, distributor, economic concentration, financial services, insurance, investment, investment company, merger control, supply chain








C_202401223EN.000101.fmx.xml












Official Journal of the European Union


EN
Series C













C/2024/1223


31.1.2024






Prior notification of a concentration
(Case M.11381 – ALLIANZ / PIMCO / SILVER POINT / INCORA)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/1223)


1.   
On 22 January 2024, 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:






—


Allianz SE, through Pacific Investment Management Company LLC (collectively, ‘Allianz’, Germany),










—


Silver Point Capital, L.P. (‘Silver Point’, United States), controlled by Edward A. Mulé and Robert J. O’Shea (co-founders),










—


Wesco Aircraft Holdings, Inc. (‘Incora’, United States), controlled by Platinum Equity Advisors, LLC.




Allianz and Silver Point will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of Incora.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


Allianz is a global financial services company, active in relation to life and non-life insurance and asset management,










—


Silver Point is an investment manager or adviser that focuses on global credit investing.






3.   

The business activities of the undertaking Incora are the following: distribution and provision of supply chain solutions in commercial aerospace and aftermarket, defense and space, automotive manufacturing and industrial equipment manufacturing.



4.   
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 treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


5.   
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.11381 – ALLIANZ / PIMCO / SILVER POINT / INCORA
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
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 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2024/1223/oj
ISSN 1977-091X (electronic edition)