CELEX: 32021M10323
Language: en
Date: 2021-07-13 00:00:00
Title: Commission Decision of 13/07/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10323 - KKR / LGP / CNG) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 13.7.2021
                                                                 C(2021) 5325 final
                                                                                 PUBLIC VERSION
                                                                 KKR & Co. Inc.
                                                                 30 Hudson Yards
                                                                 NY 10001 New York
                                                                 United States of America
                                                                 Leonard Green & Partners, L.P.
                                                                 11111 Santa Monica Blvd., Suite 2000
                                                                 CA 90025 Los Angeles
                                                                 United States of America
Subject:        Case M.10323 – KKR / LGP / CNG
                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 18 June 2021, the European Commission received a notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which KKR & Co.
        Inc. (‘KKR’, US) and Leonard Green & Partners, L.P. (‘LGP’, US) intend to acquire
        within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control
        of Charter Next Generation Inc. (‘CNG’, US), solely controlled by LGP. The
        concentration is accomplished by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             KKR: global investment firm that offers alternative asset management and capital
              markets and insurance solutions,
             LGP: private equity investment firm,
             CNG: producer of high-performance, specialty films used in flexible packaging.
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 256, 30.6.2021, 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--- 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 (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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