CELEX: 32015M7624
Language: en
Date: 2015-05-26 00:00:00
Title: Commission Decision of 26/05/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7624 - KKR / COMCAST / PENTECH / PITON / SCOTTISH ENTERPRISE / SHAMROCK / FANDUEL / JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 26/05/2015
                                        C(2015) 3631 final

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|To the notifying parties:                                                    |
|                                                                             |

Dear Sirs,

Subject:    Case M.7624 - KKR/ COMCAST/ PENTECH/ PITON/ SCOTTISH ENTERPRISE/ SHAMROCK/ FANDUEL/ JV
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 22 April 2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation
    by which KKR & Co. L. P. ("KKR", United States), Comcast Ventures LP and NBC Sports Venture, LLC, belonging to the Comcast group ("Comcast",
    United States), Pentech Fund II L. P. ("Pentech", United Kingdom), Piton Capital Venture Fund L.  P.  ("Piton",  United  Kingdom),  Scottish
    Enterprise (United Kingdom) and Shamrock Capital Growth Fund III, L. P. ("Shamrock", United States) acquire within the  meaning  of  Article
    3(1)(b) and 3(4) of the  Merger Regulation joint control of FanDuel Limited ("FanDuel", United Kingdom) by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

    - for KKR: global alternative asset manager and provider of capital market solutions;

    - for Comcast: global media and technology services;

    -      for Pentech: venture capital firm;

    -      for Piton: venture capital and growth equity firm;

    -      for Scottish Enterprise: Scotland's economic development agency;

    -      for Shamrock: investment firm;

    - for FanDuel: online fantasy sports services to North America.

 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(a) 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)
                                        Alexander ITALIANER
                                        Director-General

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[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 142, 29/04/2015, p.24.

[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE