CELEX: 32014M7206
Language: en
Date: 2014-04-28 00:00:00
Title: Commission Decision of 28/04/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7206 - BAIN CAPITAL / ANCHORAGE CAPITAL / IDEAL STANDARD) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 28.4.2014
                                        C(2014) 2947 final

|PUBLIC VERSION                                   |
|                                                 |
|SIMPLIFIED MERGER PROCEDURE                      |

                                        |To the notifying parties                                           |                                                                   |

Dear Madam(s) and/or Sir(s),

Subject:    Case M.7206 – BAIN CAPITAL / ANCHORAGE CAPITAL / IDEAL STANDARD
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

 1. On 20 March 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation
    by which the undertakings Bain Capital Investors, L.L.C. (‘Bain Capital’, United States) and Anchorage  Capital  Group,  L.L.C.  (‘Anchorage
    Capital’, United States) acquire within the meaning of Article 3(1)(b) of the Merger Regulation  joint  control  of  the  undertaking  Ideal
    Standard International, S.A. (‘Ideal Standard’, Luxembourg) by way of acquisition of shares. Ideal Standard is currently controlled by  Bain
    Capital.[2]

 2. The business activities of the undertakings concerned are:

       – Bain Capital: private equity investment firm,

       – Anchorage Capital: registered investment adviser managing private investment funds across the credit, special  situations  and  illiquid
         investment markets of North America and Europe,

       – Ideal Standard: manufacture and supply of kitchen and bathroom products.

 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.[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

-----------------------
[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 89, 28.3.2014, p. 54.

[3]   OJ C 366, 14.12.2013, p. 5.