CELEX: 32018M8954
Language: en
Date: 2018-06-26 00:00:00
Title: Commission Decision of 26/06/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.8954 - Baring Private Equity Asia Fund VI / PAI Partners SAS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 26.6.2018
                                                                C(2018) 4136 final
                                                                       PUBLIC VERSION
                                                                To the notifying parties:
Subject:        Case M.8954 - BPEA / PAI / WFC
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                             2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 31 May 2018, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the undertakings
        Baring Asia Private Equity Fund VI ("BPEA", Cayman Islands), controlled by Baring
        Private Equity Asia ("Baring Asia", Hong Kong) and PAI Partners SAS ("PAI", France)
        acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control over
        the whole of the undertaking GB WFC International S.à.r.l ("WFC", Luxembourg) by way
        of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     for BPEA: private equity fund focused on capital preservation and post-investment
              value creation investments in Asian countries,
        −     for PAI: private equity firm that manages and advises a number of funds that own
              companies active in a variety of business sectors, such as business services, food and
              consumer goods, general industries, healthcare, and retail and distribution,
        −     for WFC: air cargo general sales and service agent providing outsourced air cargo
              management services to airlines.
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 195, 07.06.2018, p. 44.
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(b) 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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