CELEX: 32021M10445
Language: en
Date: 2021-10-04 00:00:00
Title: Commission Decision of 04/10/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10445 - SEVENTH CINVEN FUND / RESTAURANT BRANDS IBERIA) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 4.10.2021
                                                                C(2021) 7298 final
                                                                                    PUBLIC VERSION
                                                                Cinven Capital Management (VII)
                                                                General Partner Limited
                                                                Level Four, Court, La Charroterie
                                                                St Peter Port
                                                                Guernsey GY1 1EJ
                                                                Guernsey
Subject:        Case M.10445 – SEVENTH CINVEN FUND / RESTAURANT BRANDS
                IBERIA
                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 7 September 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Cinven Capital
        Management (VII) General Partner Limited (Guernsey, ‘Cinven’) acquires within the
        meaning of Article 3(1)(b) of the Merger Regulation sole control over Restaurant
        Brands Iberia S.A. (Spain, ‘RBI’). 3
2.      The business activities of the undertakings concerned are:
        −     for Cinven: private equity business engaged in the provision of investment
              management and investment advisory services to a number of investment funds.
              Cinven controls a number of portfolio companies which are active in a variety of
              sectors across a range of jurisdictions,
        −     for RBI: company that provides quick service restaurant activities under the
              brands Burger King in Spain, Portugal, Gibraltar and Andorra, and Tim Hortons
              and Popeyes in Spain.
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 375, 17.9.2021, p. 7.
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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
                                              2