CELEX: 32020M9675
Language: en
Date: 2020-04-08 00:00:00
Title: Commission Decision of 08/04/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9675 - APOLLO CAPITAL MANAGEMENT / LOPESAN GROUP / IFA FARO HOTEL / IFA BUENAVENTURA HOTEL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 8.4.2020
                                                                C(2020) 2333 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9675 – APOLLO CAPITAL MANAGEMENT / LOPESAN
                GROUP / IFA FARO HOTEL / IFA BUENAVENTURA HOTEL
                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 6 March 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Apollo Capital Management L.P. (“Apollo”, USA) and Invertur Helsan,
        S.L.U. (“Lopesan”, Spain), ultimately controlling the Lopesan Group, acquire within
        the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control over
        the whole of the undertaking Hotel Faro, a Lopesan Collection Hotel (“IFA Faro
        Hotel”) and Abora Buenaventura By Lopesan Hotels (“IFA Buenaventura Hotel”)
        (together “the Target Hotels”, Gran Canaria, Spain) by way of purchase of shares and
        a hotel management agreement.3
2.      The business activities of the undertakings concerned are:
             for Apollo: investment in companies involved in various businesses throughout
              the world, inter alia, companies in the chemical, hospital, security, insurance,
              financial services, and real estate businesses,
             for Lopesan Group: Spanish conglomerate based in Gran Canaria that owns
              companies in the construction, tourism, real estate development, leisure and
              agriculture sectors. It owns and manages 15 hotels distributed in Gran Canaria,
              Fuerteventura, Germany, Austria, and the Dominican Republic. Lopesan Group
              also manages six third-party-owned hotels in Gran Canaria,
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 86, 16.03.2020, p. 11.
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---        for the Target Hotels: four and five star hotels offering bedrooms, as well as
        restaurant, bar and conference facilities in San Bartholomé de Tirajana in Gran
        Canaria, Spain.
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(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
4  OJ C 366, 14.12.2013, p. 5.
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