CELEX: 32021M10112
Language: en
Date: 2021-02-12 00:00:00
Title: Commission Decision of 12/02/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10112 - CVC / RIVERSTONE EUROPE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                   Brussels, 12.02.2021
                                                                   C(2021)1062 final
                                                                                    PUBLIC VERSION
                                                                   CVC Capital Partners SICAV-FIS S.A.
                                                                   20 Avenue Monterey
                                                                   L-2163 - Luxembourg
                                                                   Luxembourg
Subject:         Case M.10112 – CVC / RIVERSTONE EUROPE
                 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 21 January 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertaking CVC Capital Partners SICAV-FIS S.A. (‘CVC’, Luxembourg) acquires
        within the meaning of Article 3(1)(b) of the Merger Regulation control over the whole
        of the undertaking RiverStone Barbados Limited (‘Riverstone Europe’, Barbados) by
        way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     for CVC: CVC and/or its subsidiaries manages investment including private
              equity funds and platforms,
        −     for Riverstone Europe: Riverstone Europe is active int the management of run-off
              insurance4 businesses and portfolios.
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 30, 27.01.2021, p. 7.
4       The run-off model consists in handling the formalities for the conclusion of policies, the administration
        of claims, and the provision of services to pools or companies that do not write new business but whose
        insurance policies have not yet all expired. The relevant insurance policies are usually closed to new
        policyholders and cannot be renewed or varied. Such services can be provided by a company when a
        business closes or is sold or the principal retires and it only covers liability for work done prior to its
        stipulation.
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--- 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(c) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under the Merger Regulation.5
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
5  OJ C 366, 14.12.2013, p. 5.
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