CELEX: 32014M7386
Language: en
Date: 2014-09-19 00:00:00
Title: Commission Decision of 19/09/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7386 - KKR / RIVERSTONE / TRINITY) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |
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                                        Brussels, 19.9.2014
                                        C(2014) 6822 final

|To the notifying parties:                                          |                                                                   |
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Dear Madam(s) and/or Sir(s),

Subject:    Case M.7386-KKR / RIVERSTONE / TRINITY
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

 1. On 26 August 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation
    by which KKR & Co. L.P. ("KKR", USA) and Riverstone Holdings LLC ("Riverstone", USA), acquire within the meaning of Article  3(1)(b)  of  the
    Merger Regulation joint control of Trinity River Energy LLC ("Trinity", USA) by way  of  purchase  of  shares  in  a  newly  created  company
    constituting a joint venture. Trinity will consist of a combination of the existing assets held by KKR Natural Resources Funds ("KNR",  USA),
    which is controlled by KKR, and the existing assets held  by  Legend  Production  Holdings  LLC  ("Legend",  USA),  which  is  controlled  by
    Riverstone.

 2. The business activities of the undertakings concerned are:

      -     KKR is active in the provision of a broad rage of asset management services.

      -     KNR is an investment platform of KKR dedicated to investing in unconventional oil and gas assets.

      -     Riverstone is a private equity firm focused on investments related to energy and power.

      -     Legend is active in the acquisition and development of long-lived oil and natural gas  properties  primarily  in  the  basins  around
           Texas.

      -     Trinity will hold the combined assets and business activities of KNR and Legend[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(a) 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
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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]   Publication in the Official Journal of the European Union No C 293, 02.09.2014, p. 17.
[3]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE