CELEX: 32021M10478
Language: en
Date: 2021-11-08 00:00:00
Title: Commission Decision of 08/11/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10478 - CPP INVESTMENTS / BC PARTNERS / CERAMTEC) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 8.11.2021
                                                                C(2021) 8160 final
                                                                                 PUBLIC VERSION
                                                                Canada Pension Plan Investment
                                                                Board
                                                                40 Portman Square, 2nd Floor
                                                                London WIH 6LT
                                                                United Kingdom
                                                                BC Partners LLP
                                                                40 Portman Square
                                                                London W1H 6DA
                                                                United Kingdom
Subject:        Case M.10478 – CPP INVESTMENTS / BC PARTNERS / CERAMTEC
                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 8 October 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Canada Pension Plan Investment Board (‘CPP Investments’, Canada)
        and BC Partners LLP (‘BC Partners’, UK) intends to acquire within the meaning of
        Articles 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of
        CeramTec Topco GmbH (‘CeramTec’, Germany), by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
              for CPP Investments: an investment management organisation that invests the
                 funds transferred to it by the Canada Pension Plan in public and private
                 equities, real estate, infrastructure and fixed income instruments in Europe, the
                 Americas and Asia,
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 421, 18.10.2021, p. 4.
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 BC Partners: an international private equity firm whose sole activity is to
           provide advisory services. Funds advised by BC Partners are pure financial
           investors, while their portfolio companies are active in sectors of financial
           services, healthcare, education, consumer and retail in Europe and North
           America,
        for CeramTec: a company engaged in the production of high-performance
           advanced ceramic materials and products for use in a wide variety of
           applications, including in the automotive, electronics, industrial and med-tech
           sectors, in Europe, South America, the United States and Asia.
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(b) 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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