CELEX: 32019M9275
Language: en
Date: 2019-03-01 00:00:00
Title: Commission Decision of 01/03/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9275 - Intermediate Capital Group plc / Grupo Konectanet, Spain / Konecta, Spain) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 1.3.2019
                                                                C(2019) 1837 final
                                                                Intermediate
                                                                          PUBLIC Capital Group plc
                                                                                     VERSION
                                                                To the notifying party:
Subject:        Case M.9275 – INTERMEDIATE CAPITAL GROUP / GRUPO
                KONECTANET / KONECTA ACTIVOS INMOBILIARIOS
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                                2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 05 February 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the undertaking
        Intermediate Capital Group, plc. (‘ICG’, United Kingdom) acquires within the meaning of
        Article 3(1)(b) of the Merger Regulation control over the whole of the undertaking3 Grupo
        Konectanet (Spain) and Konecta Activos Inmobiliarios (Spain) (together, ‘Konecta
        Group’) by way of purchase of shares.4
2.      The business activities of the undertakings concerned are:
             ICG is an investment firm active in the structuring and provision of mezzanine
              finance, leveraged credit and minority equity, managing assets from third party
              investors and its balance sheet with investment portfolios in Europe, Asia Pacific and
              the US,
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       Pursuant to a share sale and purchase agreement subscribed to by the Parties, Konecta Group will be jointly
        controlled by ICG and a number of individuals collectively referred to as “the Managers”, who do not control
        other undertakings, nor carry out further economic activities on their own account, and who therefore are not
        considered to be an undertaking concerned under the Merger Regulation.
4       Publication in the Official Journal of the European Union No C 55, 12.02.2019, p. 18.
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---        Konecta Group is active globally in the provision of business process outsourcing and
        contact centre services to telecommunications, utilities, banking, insurance, public
        administration or transport companies.
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 139/2004.5
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)
                                                    Johannes LAITENBERGER
                                                    Director-General
5  OJ C 366, 14.12.2013, p. 5.
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