CELEX: 32015M7545
Language: en
Date: 2015-03-23 00:00:00
Title: Commission Decision of 23/03/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7545 - BLACKSTONE / KOALA / ACENDEN / AMS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 23.3.2015
                                        C(2015) 2108 final

                                        [pic]

To the notifying parties:

Dear Madam(s) and/or Sir(s),

Subject:    Case M.7545 - BLACKSTONE / KOALA / ACENDEN / AMS
         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 26 February 2015, the European Commission received notification of  a  proposed  concentration  pursuant  to  Article  4  of  the  Merger
    Regulation by which The Blackstone Group L.P. ("Blackstone", USA) and Koala HoldCo, LLC (affiliated with TPG Global,  LLC  and  TPG  Special
    Situations Partners, LLC (collectively referred to as "TPG", USA) will acquire joint  control  of  Acenden  Ltd.  ("Acenden",  UK)  and  AMS
    Decisions Advisers LLP ("AMS", UK) by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

      -     Blackstone : a global alternative asset manager and provider of financial advisory services;

      -     TPG : a global private investment firm. The private investment funds of TPG invest in a variety  of  companies  through  acquisitions
           and corporate restructuring;

      -     Ascenden : a provider of mortgage management and administration services for mortgage lenders in the UK and Ireland;

      -     AMS: a provider of mortgage management services for mortgage lenders in the UK.

 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)
                                        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 080, 07.03.2015, p. 24.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE