CELEX: 32020M9986
Language: en
Date: 2020-10-26 00:00:00
Title: Commission Decision of 26/10/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9986 - KPS CAPITAL PARTNERS / GARRETT MOTION) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 26.10.2020
                                                                C(2020) 7509 final
                                                                               PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9986 – KPS CAPITAL PARTNERS/GARRETT MOTION
                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 2 October 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertaking KPS Capital Partners, LP (‘KPS’, USA) acquires within the meaning of
        Article 3(1)(b) of the Merger Regulation control of the whole of the undertaking
        Garrett Motion, Inc. (‘Garrett’, USA). The concentration is accomplished by way of
        purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for KPS: managing a series of funds which invest in manufacturing and industrial
              companies across an array of industries, including basic materials, branded
              consumer, healthcare and luxury products, automotive parts, capital equipment
              and general manufacturing,
             for Garrett: designing, manufacturing and selling turbochargers, electric-boosting
              and connected vehicle technologies for Original Equipment Manufacturers and
              the aftermarket.
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 338, 12.10.2020, p. 4.
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(b) 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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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