CELEX: 32021M10415
Language: en
Date: 2021-08-24 00:00:00
Title: Commission Decision of 24/08/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10415 - BLACK DIAMOND / SPECIALTY CHEMICALS INTERNATIONAL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 24.08.2021
                                                                 C(2021) 6326 final
                                                                                 PUBLIC VERSION
                                                                 Black Diamond Capital Management
                                                                 L.L.C.
                                                                 2187 Atlantic Street, 9th Floor
                                                                 CT 06902 Stamford
                                                                 United States of America
Subject:        Case M.10415 – BLACK DIAMOND / SPECIALTY CHEMICALS
                INTERNATIONAL
                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 2 August 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Black
        Diamond Capital Management L.L.C. (‘Black Diamond’, US) acquires within the
        meaning of Article 3(1)(b) of the Merger Regulation sole control over the whole of
        Specialty Chemicals International B.V. (‘Specialty Chemicals’, the Netherlands) by
        way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Black Diamond: an investment advisory firm with a focus on four investment
              areas: (i) control distressed/private equity funds; (ii) hedge funds; (iii) a non-
              control stress/distressed closed end fund; and (iv) collateralised loan obligations.
              Black Diamond currently holds joint control over Specialty Chemicals,
             for Specialty Chemicals: holding company for Polynt-Reichhold, active in the
              development, production and distribution of speciality chemicals and
              performance chemicals, specifically unsaturated polyester resin, chemical
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 321, 10.08.2021, 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---         intermediates (anhydrides), related commodities (plasticisers),       specialties
        (thermoset compounds), and resins for composites and coatings.
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(d) 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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