CELEX: 32020M9856
Language: en
Date: 2020-07-08 00:00:00
Title: Commission Decision of 08/07/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9856 - M&G INVESTMENT MANAGEMENT / BARING ASSET MANAGEMENT / TUNSTALL GROUP HOLDINGS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 08.07.202
                                                                C(2020) 4755 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9856 - M&G INVESTMENT MANAGEMENT / BARING ASSET
                MANAGEMENT / TUNSTALL GROUP HOLDINGS
                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 3 June 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which (i) M&G
        Investment Management Limited (“M&G Investment Management”, United
        Kingdom), controlled by M&G plc., (“M&G Group”, United Kingdom), and (ii)
        Baring Asset Management Limited (“Baring Asset Management”,United Kingdom),
        controlled by Barings Europe Limited (United Kingdom), which is ultimately
        controlled by Massachusetts Mutual Life Insurance Company (“MassMutual Group”,
        United States), acquire within the meaning of Article 3(1)(b) of the Merger Regulation
        joint control over the whole of Tunstall Group Holdings Limited (“Tunstall”, United
        Kingdom), controlled by Charterhouse Capital Partners VIII LLP (Charterhouse
        Capital, United Kingdom) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for M&G Investment Management: provision of investment managing services,
              including personal equity plans, individual savings accounts and investment
              trusts. M&G Group is a savings and investment company offering solutions to
              retail and institutional clients and managing life savings and retirement plans.
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 211, 25.06.2020, p. 13.
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---        for Baring Asset Management: management of equities, real estate debt and
        equity, private debt and fixed income portfolios. MassMutual Group is a mutual
        life insurance company offering a range of financial products such as life
        insurance and long term care insurance.
       for Tunstall: provider of software solutions and technology for the telecare and
        telehealth markets. Charterhouse Capital is a private equity fund providing
        investment advisory services.
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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