CELEX: 32017M8490
Language: en
Date: 2017-06-20 00:00:00
Title: Commission Decision of 20/06/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8490 - BLACKSTONE / CPPIB / ASCEND LEARNING) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 20.6.2017
                                                                C(2017) 4360 final
                                                                       PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.8490 - BLACKSTONE / CPPIB / ASCEND LEARNING
                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 18 May 2017, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the undertakings
        Blackstone Group L.P. ('Blackstone', USA) and Canada Pension Plan Investment Board
        ('CPPIB', Canada) acquire within the meaning of Article 3(1)(b) of the Merger Regulation
        joint control of Ascend Learning Holdings, LLC ('Ascend Learning', USA).3
2.      The business activities of the undertakings concerned are:
        −     for Blackstone: global alternative asset manager headquartered in the United States.
        −     for CPPIB: institutional investor which invests in public and private equities, real
              estate, infrastructure and fixed income investments headquartered in Canada.
        −     for Ascend Learning: provider of educational content and software tools for students,
              educational institutions and employers, including admissions testing, educational
              content, test preparation, professional certifications and continuing education, with a
              particular focus on healthcare and other licensed professions such as certified personal
              trainers, financial advisers, skilled trades professionals and insurance brokers. Ascend
              Learning is headquartered in the United States.
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(a) 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 167, 25.5.2017, p. 6.
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---    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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