CELEX: 32017M8327
Language: en
Date: 2017-01-24 00:00:00
Title: Commission Decision of 24/01/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8327 - FAIRFAX / SAGARD HOLDINGS / PSG) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 24.1.2017
                                        C(2017) 469 final

                                        [pic]

                                        To the notifying parties

Dear Sirs,

Subject:    Case M.8327 – FAIRFAX/SAGARD HOLDINGS/PSG
         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]

 1. On 21 December 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of  Council  Regulation
    (EC) No 139/2004 by which the undertakings Fairfax Financial Holdings Limited  ("Fairfax",  Canada)  and  Sagard  Holdings  Inc.  ("Sagard",
    Canada), controlled by the Power Corporation of Canada, acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control
    of the assets of Performance Sports Group Ltd and of its US and Canadian subsidiaries ("PSG", USA) by way of  purchase of assets.[3]

 2. The business activities of the undertakings concerned are:

      –     for Fairfax: property and casualty insurance and reinsurance, investment management.

      –     for Sagard: investment in mid-cap public companies in the US. Sagard is a subsidiary of Power Corporation of  Canada,  a  diversified
           international management and holding company that holds interests in companies in the financial services,  communications  and  other
           business sectors.

      –     for PSG: development and manufacturing of ice hockey, roller hockey, lacrosse, baseball and softball sports  equipment,  as  well  as
           related apparel and soccer apparel. Its products are marketed under the BAUER, MISSION, MAVERIK, CASCADE, INARIA, COMBAT  and  EASTON
           brand names.

 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

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[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 5, 7.1.2017, p. 4.
[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION