CELEX: 32019M9655
Language: en
Date: 2019-12-06 00:00:00
Title: Commission Decision of 06/12/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9655 - HG / GA / ARGUS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 06.12.2019
                                                                C(2019) 8894 final
                                                                                PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9655 – HG / GA / ARGUS
                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 14 November 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Hg Pooled
        Management Limited, a subsidiary of HgCapital LLP (“HG”, United Kingdom),
        General Atlantic LLC (“GA”, USA) and Argus' CEO and founder, Mr Adrian Binks,
        acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint
        control of the whole of Argus Media Limited (“Argus”, United Kingdom), currently
        controlled by GA and Mr Adrian Binks, by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             HG: private equity firm that invests mainly in Europe into technology and
              technology enabled service businesses,
             GA: global growth private equity firm that provides capital and strategic support
              for growth companies,
             Argus: global commodities price reporting agency that publishes market reports
              and data feeds containing price assessments, market commentary and news on a
              full range of global commodities.
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       Publication in the Official Journal of the European Union No C 395, 22.11.2019, p. 11.
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--- 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)
                                                  Cecilio MADERO VILLAREJO
                                                  Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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