CELEX: 32019M9515
Language: en
Date: 2019-09-27 00:00:00
Title: Commission Decision of 27/09/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9515 - TPG Asia GenPar VII Advisors, Inc. / Genting Hong Kong Limited / Dream Cruises Holding Limited) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 27.09.2019
                                                                C(2019) 7096 final
                                                                                PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9515- TPG ASIA / GENTING HONG KONG / DREAM CRUISES
                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 4 September 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings TPG Asia GenPar VII Advisors Inc. (“TPG Asia”, Cayman Islands) and
        Genting Hong Kong Limited (“Genting HK”, Bermuda) acquire within the meaning of
        Article 3(1)(b) and Article 3(4) of the Merger Regulation joint control of Dream
        Cruises Holding Limited (“Dream Cruises”, Bermuda), currently solely controlled by
        Genting HK. The concentration is accomplished by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             − TPG Asia: is a private investment firm that manages a family of funds that
                 invest in a variety of companies through acquisitions. It is mainly active in the
                 Asia Pacific region (including China, India, Southeast Asia, Japan, Korea, and
                 Australia). It is part of TPG, which is a private investment firm active
                 worldwide,
             − Genting HK: is a worldwide active leisure, entertainment and hospitality
                 company. It runs cruise and cruise-related operations under the brands of Star
                 Cruises, Crystal Cruises and Dream Cruises. Genting HK also has cruise
                 shipbuilding operations in Europe,
             − Dream Cruises: operates cruise services across the Asia Pacific region. It
                 currently has three ships: Genting Dream, World Dream and Explorer Dream.
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 308, 12.09.2019, p. 5.
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---            It is currently solely controlled by Genting HK and post-transaction, will be
           jointly controlled by Genting HK and TPG 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(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)
                                                  Cecilio MADERO VILLAREJO
                                                  Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
                                               2