CELEX: 32019M9390
Language: en
Date: 2019-07-30 00:00:00
Title: Commission Decision of 30/07/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9390 - Brookfield Asset Management Inc. / Oaktree Capital Group, LLC) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 30.7.2019
                                                                C(2019) 5850 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9390 - BROOKFIELD ASSET MANAGEMENT / OAKTREE
                CAPITAL GROUP
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 5 July 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Brookfield Asset Management Inc. (“Brookfield”, USA) and Oaktree
        Capital Group Holdings, L.P. (“OCGH LP”, USA), acquire within the meaning of
        Articles 3(1)(b) and 3(4) of the Merger Regulation joint control over the Oaktree
        Capital Group, LLC (“OCG LLC”, USA). OCG LLC is currently solely controlled by
        OCGH LP, which is in turn solely controlled by Oaktree Capital Group Holdings GP
        LLC (“OCGH GP LLC”, USA). The concentration is accomplished by way of
        purchase of shares.3
2.      The business activities of the undertakings concerned are:
              Brookfield provides asset management services, focused on real estate,
                 infrastructure, renewable power and private equity,
              OCGH LP, OCG LLC and OCGH GP LLC provide asset management
                 services focused mainly on corporate credit investment.
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 235, 12.07.2019, p. 8.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak--- 3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                  For the Commission
                                                  (Signed)
                                                  Johannes LAITENBERGER
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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