Prior notification of a concentration (Case M.12095 – ICG / GALA / MAGELLAN) – Candidate case for simplified procedure
Date: 2025-09-03
Institutions: Directorate-General for Competition, European Commission
Subjects: France, consultancy, economic concentration, holding company, information technology industry, investment company, merger control, provision of services








C_202504872EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2025/4872


3.9.2025






Prior notification of a concentration
(Case M.12095 – ICG / GALA / MAGELLAN)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2025/4872)


1.   
On 21 August 2025, 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:






—


ICG plc (‘ICG’, United Kingdom),










—


Gala Investment (‘Gala’, France), controlled by the Zeitoun family.




ICG and Gala will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Magellan Partners (‘Magellan’, France), currently controlled by Gala.
The concentration is accomplished by way of purchase of shares.


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






—


ICG is a global alternative asset manager active in structured and private equity, private debt, real assets, and credit,










—


Gala is a holding company controlled by the Zeitoun family. It holds interests in civil real estate companies (Sociétés Civiles Immobilières – SCI), as well as minority shareholdings in an investment company and in subsidiaries of the Magellan Group.






3.   

The business activities of the undertaking Magellan are the following: Magellan is a consulting and IT services group specialising in organisational consulting and information systems, primarily active in France.



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 concentration 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.12095 – ICG / GALA / MAGELLAN
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/2025/4872/oj
ISSN 1977-091X (electronic edition)