CELEX: 32011M6186
Language: en
Date: 2011-05-30 00:00:00
Title: Commission Decision of 30/05/2011 declaring a concentration to be compatible with the common market (Case No COMP/M.6186 - ADVENT / TOWERGATE BUSINESSES) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

Important legal notice

|

32011M6186

Commission Decision of 30/05/2011 declaring a concentration to be compatible with the common market (Case No COMP/M.6186 - ADVENT / TOWERGATE BUSINESSES) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)  

          |EUROPEAN COMMISSION     |
            Brussels , 30.5.2011
             PUBLIC VERSION C(2011) 3904 final
             SIMPLIFIED MERGER PROCEDURE
            To the notifying party | |
             Dear Madam(s) and/or Sir(s),
             Subject: Case No COMP/M.6186 - ADVENT / TOWERGATE BUSINESSES Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004  [1]  
            1.  On 26/04/2011, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which certain funds controlled by Advent International Corporation ("Advent", USA) acquire, within the meaning of Article 3(1)(b) of the Merger Regulation, control of the whole of the undertakings Towergate Partnership Limited (UK), Cullum Capital Ventures Limited (UK), Countrywide Insurance Management Limited (UK) and Powerplace Insurance Services Limited (together the "Towergate Businesses") by way of purchase of shares.
            2.  The business activities of the undertakings concerned are:
              - for Advent: global private equity investor in various sectors, including financial services, media, communications, information technology, retail, industrial and pharmaceuticals;
              - for the Towergate Businesses: insurance intermediary services in the UK [2]  .
            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 [3]  .  
            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.
             For the Commission
             (signed) Alexander ITALIANER Director General
            [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]  Publication in the Official Journal of the European Union No C140, 11/05/2011, p.13.
            [3] OJ C 56, 5.3.2005, p. 32.