CELEX: 32017M8593
Language: en
Date: 2017-09-05 00:00:00
Title: Commission Decision of 05/09/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8593 - CVC / PAI / CORTEFIEL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 5.9.2017
                                                                C(2017) 6099 final
                                                                             PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.8593 – CVC / PAI / CORTEFIEL
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                             2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 11 August 2017, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which CVC Capital
        Partners SICAV-FIS SA (‘CVC’, Luxembourg) and PAI Partners S.A.S. (‘PAI’, France)
        indirectly acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint
        control of Cortefiel SA (‘Cortefiel’, Spain) by way of a purchase of shares.3
2.      The business activities of the undertakings concerned are:
             − for CVC: The CVC Group provides advice to and manages investment funds and
                 platforms,
             − for PAI: PAI is a private equity company that manages and advises a number of
                 funds that own companies in various business sectors, such as business services,
                 food and consumer, general industries, healthcare, and retail and distribution,
             − for Cortefiel: Cortefiel is active in the production and retail distribution of clothing
                 and, to a limited extent, retail distribution of footwear and accessories.
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 276, 19.8.2017, p. 2.
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 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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