CELEX: 32019M9423
Language: en
Date: 2019-08-21 00:00:00
Title: Commission Decision of 21/08/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9423 - Strategic Value Partners, LLC / Pfleiderer Group S.A.) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 21.8.2019
                                                                C(2019) 6214 final
                                                                                 PUBLIC VERSION
                                                                To the notifying party
Subject:         Case M.9423 – STRATEGIC VALUE PARTNERS / PFLEIDERER
                 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 16 July 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Strategic Value
        Partners, LLC (‘Strategic Value Partners’, United States of America) acquires within
        the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of
        Pfleiderer Group S.A. (‘Pfleiderer’, Poland). The concentration is accomplished by
        way of public bid announced on 11 July 2019.3
2.      The business activities of the undertakings concerned are:
             for Strategic Value Partners: the management, as a privately owned investment
              firm, of a hedge fund vehicle and hybrid private equity funds investing in public
              and private equity markets, debt markets and other alternative investment markets
              world-wide,
             for Pfleiderer: the production of a range of engineered wood and surface finished
              products including chipboard, fibreboard, particleboard and laminates for a
              variety of uses, including the production of worktops/work surfaces, furniture,
              interior finishes, general building applications and flooring.
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
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 247, 23.7.2019, p. 30.
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---    paragraph 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)
                                                  Johannes LAITENBERGER
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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