CELEX: 32021M10161
Language: en
Date: 2021-03-16 00:00:00
Title: Commission Decision of 16/03/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10161 - THE GOLDMAN SACHS GROUP / WARBURG PINCUS / GOOD HOST SPACES) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 16.03.2021
                                                                C(2021) 1894 final
                                                                                 PUBLIC VERSION
                                                                The Goldman Sachs Group Inc.
                                                                Corporation Trust Center
                                                                1209 Orange Street
                                                                New Castle
                                                                DE 19801 – Wilmington
                                                                United States of America
                                                                Warburg Pincus LLC
                                                                450 Lexington Avenue
                                                                NY 10017 – New York
                                                                United States of America
Subject:        Case M.10161 – THE GOLDMAN SACHS GROUP / WARBURG
                PINCUS / GOOD HOST SPACES
                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 19 February 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Warburg Pincus LLC (“Warburg Pincus”, United States), indirectly
        through Baskin Lake Investment Ltd, and The Goldman Sachs Group, Inc. (“Goldman
        Sachs”, United States), acquire within the meaning of Article 3(1)(b) and 3(4) of the
        Merger Regulation joint control over the whole of the undertaking Good Host Spaces
        Private Limited (“Good Host”, India), which is currently jointly controlled by
        Goldman Sachs and Housing Development Finance Corporation Limited (India), by
        way of purchase of shares.3
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 65, 25.02.2021, p. 17-18.
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--- 2. The business activities of the undertakings concerned are:
        for Warburg Pincus: global private equity firm headquartered in New York. Its
           portfolio companies are active in a variety of sectors, including energy,
           financial services, healthcare, industrial and business services and technology,
        for Goldman Sachs: global investment banking, securities and investment
           management firm that provides a range of banking, securities and investment
           services worldwide to a substantial and diversified client base that includes
           corporations, financial institutions, governments and high-net-worth
           individuals,
        for Good Host: a student housing company that provides high quality
           accommodation to students in towns and cities within India, including at
           Manipal University in Jaipur. Its corporate office is located in Mumbai.
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(a) 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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