CELEX: 32020M9928
Language: en
Date: 2020-10-09 00:00:00
Title: Commission Decision of 09/10/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9928 - QUATTROR / HGM / BURGO) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 9.10.2020
                                                                C(2020) 7094 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:         Case M.9928 – QuattroR/HGM/Burgo
                 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
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                 Economic Area
Dear Sir or Madam,
1.      On 17 September 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 and following a referral pursuant to Article 4(5) of
        the Merger Regulation by which the undertakings QuattroR SGR S.p.A. (‘QuattroR’,
        Italy) and Holding Gruppo Marchi S.p.A (‘HGM’, Italy), acquire within the meaning
        of Article 3(1)(b) and Artticle 3(4) of the Merger Regulation joint control over the
        whole of the undertaking Burgo Group S.p.A. (‘Burgo’, Italy) by way of purchase of
        shares.3
2.      The business activities of the undertakings concerned are:
             for QuattroR: a management company that focuses on investing and relaunching
              Italian businesses with solid market and industrial fundamentals that need fresh
              resources for growth or are facing temporary financial unbalance,
             for HGM: a holding company that, inter alia, controls Palladio Group S.p.A., an
              Italian-based company active in the production and sale of cartons, leaflets,
              booklets and adhesive labels and premium packaging and currently owns a
              controlling stake in Burgo,
             for Burgo: a manufacturer of pulp and paper, active in the manufacturing of (i)
              coated graphic paper, mainly for magazines and newsprint of various grades and
              qualities (coated mechanical and coated wood-free paper), (ii) uncoated graphic
              paper, mainly for books and stationeries (uncoated wood-free paper), (iii) short-fiber
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 317, 25.9.2020, p. 22.
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---         pulp, of which the majority is used for internal graphic paper production, (iv)
        specialty paper, mainly for packaging and labelling end-usages, and (v) recycled
        containerboard, used by the assemblers of brown boxes.
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)
                                                    Olivier GUERSENT
                                                    Director-General
4  OJ C 366, 14.12.2013, p. 5.
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