CELEX: 32018M8778
Language: en
Date: 2018-02-26 00:00:00
Title: Commission Decision of 26/02/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.8778 - APOLLO MANAGEMENT / PHOENIX SERVICES) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                     
                  
               
               Brussels, 26.2.2018 
            
            
               C(2018) 1292 final
            
            
                
               
            
               To the Notifying Party
            
            
            
            
               Subject:Case M.8778 - APOLLO MANAGEMENT / PHOENIX SERVICES
                  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
                
            
            
               Dear Sir or Madam,
            
            
               1.On 2 February 2018, the European Commission received notification of a proposed concentration pursuant to Article 4 and following a referral pursuant to Article 4(5) of the Merger Regulation by which Apollo Management, LP (‘Apollo’, United States), indirectly acquires, within the meaning of Article 3(1)(b) of the Merger Regulation, sole control over the whole of Phoenix Services International LLC (‘Phoenix’, United States). The concentration is accomplished by way of purchase of shares.
                  3
               
            
            
               2.The business activities of the undertakings concerned are:
            
            
               -for Apollo: controls several investment funds investing globally in companies and debt in various businesses such as chemical, cruise line, hospital, security, financial services and glass packaging,
            
            
               -for Phoenix: provides services to steel producers such as handling, processing and sales of slag, as well as recovery and sizing of scrap metal to customer specifications.
            
            
               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
               
         
         
            
                  
                     (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 46, 8.2.2018, p. 6.
               
               
                  
                     (4)
                  
                  
                      
                           OJ C 366, 14.12.2013, p. 5.