Prior notification of a concentration (Case M.12415 – APOLLO FUNDS / NIPPON SHEET GLASS COMPANY) – Candidate case for simplified procedure
Date: 2026-05-12
Institutions: Directorate-General for Competition, European Commission
Subjects: consultancy, economic concentration, glass industry, investment company, merger control








C_202602656EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2026/2656


12.5.2026






Prior notification of a concentration
(Case M.12415 – APOLLO FUNDS / NIPPON SHEET GLASS COMPANY)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2026/2656)


1.   
On 30 April 2026, 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:






—


Funds advised by affiliates of Apollo Capital Management, L.P., a wholly-owned indirect subsidiary of Apollo Global Management, Inc. (together with its indirect subsidiaries managing the investment funds; ‘Apollo Funds’, United States),










—


Nippon Sheet Glass Company, Limited (‘NSG’, Japan).




Apollo Funds will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of NSG.
The concentration is accomplished by way of a third-party allotment of shares.


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






—


Apollo Funds are advised by affiliates of Apollo Capital Management, L.P., a wholly-owned indirect subsidiary of Apollo Global Management, Inc. Apollo Global Management, Inc. is a global alternative asset manager that offers investment management and financial planning services to individuals and institutional investors on a global basis. Examples of current investments include, inter alia, companies in education, insurance, financial services, and leisure businesses,










—


NSG is incorporated in Japan and listed on the Tokyo Stock Exchange. It manufactures and supplies a wide range of glass products across a variety of markets and countries, with manufacturing operations around the world and sales in over 100 countries, employing 25 000 people. It supplies a diverse customer base across three business units: architectural glass, automotive glass, and creative technology. In Europe, NSG is primarily active through its subsidiary companies that operate under the Pilkington brand.






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 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.


4.   
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.12415 – APOLLO FUNDS / NIPPON SHEET GLAS COMPANY
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/2026/2656/oj
ISSN 1977-091X (electronic edition)