Prior notification of a concentration (Case M.11747 – PLATINUM IVY / CINVEN / FIREBIRD / POLICY EXPERT) – Candidate case for simplified procedure
Date: 2024-10-18
Institutions: Directorate-General for Competition, European Commission
Subjects: United Kingdom, consultancy, economic concentration, indemnity insurance, investment company, merger control, motor vehicle insurance








C_202406299EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/6299


18.10.2024






Prior notification of a concentration
(Case M.11747 – PLATINUM IVY / CINVEN / FIREBIRD / POLICY EXPERT)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/6299)


1.   
On 8 October 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:






—


Platinum Ivy B 2018 RSC Limited (‘Platinum Ivy’, United Arabic Emirates), a wholy owned subsidiary of the Abu Dhabi Investment Authority,










—


Cinven Capital Management (SFF) General Partner Limited (‘Cinven SFF GP’, Guernsey), belonging to Cinven (2),










—


Policy Expert Limited (‘Policy Expert’, United Kingdom), currently solely controlled by Platinum Ivy.




Platinum Ivy and Cinven SFF GP will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of Policy Expert.
The concentration is accomplished by way of purchase of shares.


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






—


Platinum Ivy: makes investments into the private equity asset class across various geographies, including the European Union,










—


Cinven SFF GP: part of Cinven, a private equity business engaged in the provision of investment management and investment advisory services to a number of investment funds.






3.   

The business activities of Policy Expert are the following: insurance provider active in the provision of non-life (motor, home and soon pet) insurance in the UK.



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 (3) 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.11747 – PLATINUM IVY / CINVEN / FIREBIRD / POLICY EXPERT
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)  
            ‘Cinven’ means, depending on the context, any of or collectively, Cinven SFF GP, Cinven Partnership LLP and their respective ‘associates’ (as defined in the UK Companies Act 2006) and/or funds managed or advised by any of the foregoing as constituted for the purposes of Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (EUMR).

(3)  
            OJ C 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2024/6299/oj
ISSN 1977-091X (electronic edition)