CELEX: 32010M5891
Language: en
Date: 2010-07-23 00:00:00
Title: Commission Decision of 23/07/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.5891 - CVC / SCPEL / AGT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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32010M5891

Commission Decision of 23/07/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.5891 - CVC / SCPEL / AGT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)  

         (.PICT.)(.PICT.) |EUROPEAN COMMISSION     |
            Brussels , 23.07.2010
             SG-Greffe(2010) D/11563
               PUBLIC VERSION C(2010) 5268
             MERGER PROCEDURE ARTICLE 6(1)(b) DECISION
             SIMPLIFIED PROCEDURE
                To the notifying party
             Dear Madam(s) and/or Sir(s),
             Subject: Case No COMP/M.5891 – CVC/ SCPEL/ AGT Notification of 24.06.2010 pursuant to Article 4 of Council Regulation (EC) No 139/2004  [1]  Publication in the Official Journal of the European Union No C 178, 03.07.2010, p. 10
            1.  On 24.06.2010, 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 Standard Chartered Private Equity Limited ("SCPEL", Hong Kong), acting through affiliates, acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the global electronics and commercial ("GEC", Singapore) and global blind fasteners ("Avdel", UK) business divisions (the "Target Business") of Acument Global Technologies, Inc., by way of purchase of shares.
             The primary business activities of the undertakings concerned are:
              - for undertaking CVC: advice to and management of investment funds;
              - for undertaking SCPEL: private equity investment; and
              - for the Target Business: manufacture of engineered mechanical fastening products and solutions.
            2.  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 [2]  .  
            3.  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.
             For the European Commission, (signed) Alexander ITALIANER Director General
            [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 C 56, 5.3.2005, p. 32.