CELEX: 32019M9590
Language: en
Date: 2019-12-11 00:00:00
Title: Commission Decision of 11/12/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9590 - OAKTREE / RAFI) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 11.12.2019
                                                                C(2019) 9153 final
                                                                                      PUBLIC VERSION
                                                                To the notifying party
Subject:        Case M.9590 – OAKTREE / RAFI
                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 15 November 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Oaktree
        Capital Group, LLC (“Oaktree”, United States) acquires within the meaning of Article
        3(1)(b) of the Merger Regulation sole control of the whole of RAFI GmbH & Co. KG
        (“RAFI”, Germany), by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             Oaktree: investment management company focused on corporate credit, private
              equity, real assets and listed equity. Oaktree’s investments relate to various
              industries such as production, health care, textile, travel, mining and media.
              Oaktree is jointly controlled by Oaktree Capital Group Holdings, L.P. and
              Brookfield Asset Management Inc., a company that provides asset management
              services, focused on real estate, infrastructure, renewable power and private
              equity,
             RAFI: developer and manufacturer of electronic components and human-machine
              interface solutions as well as provider of electronic manufacturing services.
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 (the ‘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 395, 22.11.2019, p. 10.
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(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)
                                                  Cecilio MADERO VILLAREJO
                                                  Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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