CELEX: 32021M10269
Language: en
Date: 2021-06-17 00:00:00
Title: Commission Decision of 17/06/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10269 - TDR CAPITAL / ARROW GLOBAL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 17.06.2021
                                                                C(2021) 451 final
                                                                                 PUBLIC VERSION
                                                                TDR Capital LLP
                                                                20 Bentinck Street
                                                                London W1U 2EU
                                                                United Kingdom
Subject:        Case M.10269 – TDR CAPITAL / ARROW GLOBAL
                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 21 May 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertaking TDR Capital LLP (‘TDR Capital’, UK) acquires within the meaning of
        Article 3(1)(b) of the Merger Regulation sole control over the whole of the
        undertaking Arrow Global Group plc (‘Arrow Global’, UK) by way of purchase of
        shares.3
2.      The business activities of the undertakings concerned are:
        −     for TDR Capital: TDR Capital is a private equity firm investing in a variety of
              sectors including in motor fuels retail, gyms and health clubs, conveyor car
              washes, vacant property services, UK social housing refurbishment services,
              modular construction, pubs and restaurants, logistic pallet return, coastal
              transport, life insurance and UK retirement income products,
        −     for Arrow Global: Arrow Global is an investor and asset manager. Arrow Global
              targets three core asset classes, comprising unsecured and secured non-
              performing, and performing portfolio investments across the consumer, SME,
              mortgage, real estate, master servicing / securitization / credit bureau and fund
              management niches. Arrow Global operates a number of investment and servicing
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 207, 1.06.2021, 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---         brands, through which it provides investment opportunities for institutional funds
        and deleveraging solutions for banks.
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 139/2004.4
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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