CELEX: 32022M10564
Language: en
Date: 2022-02-09 00:00:00
Title: Commission Decision of 09/02/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10564 - APOLLO / MISSGUIDED) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                               Brussels, 9.2.2022
                                                               C(2022) 899 final
                                                                                 PUBLIC VERSION
                                                                 In the published version of this decision,
                                                                 some information has been omitted
                                                                 pursuant to Article 17(2) of Council
                                                                 Regulation (EC) No 139/2004 concerning
                                                                 non-disclosure of business secrets and other
                                                                 confidential information. The omissions are
                                                                 shown thus […]. Where possible the
                                                                 information omitted has been replaced by
                                                                 ranges of figures or a general description.
                                                               Apollo Management, L.P.
                                                               9 West 57th Street, 34th Floor
                                                               NY 10019 New York
                                                               United States of America
                                                               Rajib (Danny) Passi
                                                               […]
Subject:        Case M.10564 – APOLLO / MISSGUIDED
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                (EC) No 139/20041 and Article 57 of the Agreement on the European
                Economic Area2
Dear Sir or Madam,
1.      On 13 January 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 and following a referral pursuant to Article 4(5) of
        the Merger Regulation by which Alteri Investments II SCSp (‘Alteri’) (Luxembourg),
        controlled by Apollo Management L.P. (U.S.A.) and Nakai Investments Limited,
        (‘Nakai Investments’) (British Virgin Islands), controlled by Mr. Rajib Passi acquire
        within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control
        of Missguided Limited (‘Missguided’) (United Kingdom), controlled by Mr. Rajib
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’).
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---    Passi. The concentration is accomplished by way of purchase of shares in a newly
   created company constituting a joint venture. 3
2. The business activities of the undertakings concerned are:
       for Alteri: Alteri is a subsidiary of Apollo. Apollo manages investments in
        companies worldwide that are active in a variety of sectors, including oil and gas,
        retail, and information technology. It also controls Walz Group and CBR Group,
        which are inter alia active in the design, wholesale and retail of women’s apparel,
       for Nakai Investments: Nakai Investments is a company indirectly and wholly
        held by Mr. Rajib Passi. Mr. Rajib Passi also controls By Design LLC, which is a
        wholesale clothing fashion group active in the U.S.A,
       for Missguided: Missguided is a UK-based online retailer (e-commerce) active
        worldwide. It is active in both the retail and wholesale supply of clothing, apparel,
        footwear, and ‘health and beauty’ products. Missguided is currently solely
        controlled by Mr. Rajib Passi, who owns 100% of Missguided through R Holding
        Company Limited (‘R Holding’, British Virgin Islands) and Nakai Investments.
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
   paragraphs 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
3  Publication in the Official Journal of the European Union No C 29, 20.01.2022, p. 46-47.
4  OJ C 366, 14.12.2013, p. 5.
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