CELEX: 32021M10313
Language: en
Date: 2021-07-23 00:00:00
Title: Commission Decision of 23/07/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10313 - CVC / CDPQ / WAVS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 23.7.2021
                                                                C(2021)5638 final
                                                                                PUBLIC VERSION
                                                                VC Capital Partners SICAV-FIS S.A.
                                                                20 Avenue Monterey
                                                                L-2163 Luxembourg
                                                                Luxembourg
                                                                Caisse de dépôt et placement du
                                                                Québec (CDPQ)
                                                                Place Jean-Paul-Riopelle, 1000
                                                                H2Z 2B3 Montréal
                                                                Canada
Subject:        Case M.10313 – CVC / CDPQ / WAVS
                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 30 June 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which CVC Capital
        Partners SICAV-FIS S.A. (“CVC”, Luxembourg) and Caisse de Dépôt et Placement
        du Québec (“CDPQ”, Canada) intend to acquire, within the meaning of Article 3(1)(b)
        of the Merger Regulation, joint control of the whole of Vision 7 International Inc.
        (“Vision 7”, Canada), We Are Very Social Ltd. (“WAVS”, United Kingdom), Fuse
        Project LLC (“Fuse Project”, United States of America) and Metta Communications
        Ltd. (“Metta”, Hong Kong) (together the “Target”), ultimately owned by Blue Focus
        Intelligent Communications Group C. Ltd.3 (“BFICG”, China). The concentration is
        accomplished by way of purchase of shares.4
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 (the ‘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    The entities constituting the Target are currently wholly owned by subsidiaries of BFICG as follows:
     Vision 7 is owned by Blue Valor Limited; WAVS and Metta are owned by Blue Focus International
     Limited; Fuse Project is owned by Blue Focus Communication Group of America, Inc.
4    Publication in the Official Journal of the European Union No C 266, 6.7.2021, p. 13.
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--- 2. The business activities of the undertakings concerned are:
        for CVC: CVC and/or its subsidiaries manage investment funds and platforms,
        for CDPQ: long-term institutional investor that manages funds primarily for
           public and para-public pension and insurance plans in Québec. It invests these
           funds globally in major financial markets, private equity, infrastructure and
           real estate,
        for the Target: a group of entities active in the provision of marketing and
           communication services and media buying services. In particular, WAVS is
           active in Europe as a provider of social media and brand strategy services.
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 139/2004.5
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)
                                                    Olivier GUERSENT
                                                    Director-General
5  OJ C 366, 14.12.2013, p. 5.
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