CELEX: 32021M10200
Language: en
Date: 2021-05-07 00:00:00
Title: Commission Decision of 07/05/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10200 - BLACKSTONE / GIP / CASCADE / SIGNATURE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 7.5.2021
                                                                C(2021) 3396 final
                                                                                 PUBLIC VERSION
                                                                The Blackstone Group Inc.
                                                                345 Park Avenue
                                                                10154 – New York, NY
                                                                United States of America
                                                                Global Infrastructure Investors IV,
                                                                LLC
                                                                251 Little Falls Drive
                                                                19807 – Wilmington, New Castle
                                                                County, DE
                                                                United States of America
                                                                Cascade Investment, L.L.C.
                                                                2365 Carillon Point
                                                                98033 – Kirkland, Washington
                                                                United States of America
Subject:        Case M.10200 – BLACKSTONE / GIP / CASCADE / SIGNATURE
                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 April 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the Blackstone
        Group Inc. (“Blackstone”, USA), Global Infrastructure Partners (“GIP”, USA) and
        Cascade Investment, L.L.C. (“Cascade”, USA) acquire within the meaning of Article
        3(1)(b) of the Merger Regulation joint control of Signature Aviation plc (“Signature”,
        UK). The concentration is accomplished by way of public bid announced on 5
        February 2021.3
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 140, 21.4.2021, p. 10.
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--- 2. The business activities of the undertakings concerned are:
       for Blackstone: a global asset manager, which invests across a wide range of
        assets classes such as private equity, real estate, public debt and equity, growth
        equity and secondary funds,
       for GIP: an independent infrastructure investor focused on the transport, energy,
        waste and water sectors. GIP's clients include global pension funds, sovereign
        wealth funds and other investors,
       for Cascade: a private investment entity that manages the assets of William H.
        Gates III. Cascade is primarily active in North America,
       for Signature: an operator of a global fixed based operations network for business
        and general aviation travellers, providing premium flight support services,
        including fuel and non-fuel services, ground-handling and flight-related support
        for passengers, crew and aircraft. Signature also provides engine and component
        repair and overhaul services from locations in the USA, the UK, South America
        and Asia, which it has agreed to sell to a third party.
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(a) and 5(c) 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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