CELEX: 32020M9845
Language: en
Date: 2020-05-28 00:00:00
Title: Commission Decision of 28/05/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9845 - DAVIDSON KEMPNER CAPITAL MANAGEMENT / GOLDEN TREE ASSET MANAGEMENT / QUORUM HEALTH CORPORATION) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 28.05.2020
                                                                C(2020) 3590 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9845 – DAVIDSON KEMPNER CAPITAL MANAGEMENT /
                GOLDEN TREE ASSET MANAGEMENT / QUORUM HEALTH
                CORPORATION
                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 April 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Davidson Kempner Capital Management LP (“Davidson Kempner”,
        United States) and GoldenTree Asset Management LP (“GoldenTree”, United States),
        acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control
        over the whole of the undertaking Quorum Health Corporation (“Quorum Health
        Corporation”, United States) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Davidson Kempner: alternative asset manager based and mainly active in the
              United States, pursuing a variety of investment strategies, including a number of
              investments in distressed debt, high yield bonds, leveraged loans, structured
              products, aircraft and shipping, and real property,
             for GoldenTree: asset manager based in the United States and active globally,
              specialising in credit-based opportunities via high yield bonds, leveraged loans,
              distressed debt, structured products, emerging markets, private equity and credit-
              themed equities,
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 160, 11.5.2020, p. 15.
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---        for Quorum Health Corporation: provision of hospital services in the United
        States.
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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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