CELEX: 32015M7578
Language: en
Date: 2015-04-17 00:00:00
Title: Commission Decision of 17/04/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7578 - ARES MANAGEMENT / TPG / ATD) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 17/04/2015
                                        C(2015) 2662 final

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|To the notifying parties:                                                    |                                                                       |
|                                                                             |                                                                       |

Dear Sirs,

Subject:    Case M.7578 - ARES MANAGEMENT/ TPG/ ATD
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 20 March 2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation
    by which Ares Management LLC ("Ares", of USA) and TPG Capital, L.P. ("TPG", of USA) acquire within the meaning of  Article  3(1)(b)  of  the
    Merger Regulation joint control of ATD Corporation ("ATD", of USA) by way of amendment of the Stockholders' Agreement of ATD.[3]

 2. The business activities of the undertakings concerned are:

    - for Ares: alternative asset manager active in the USA, Europe and Asia;

    - for TPG: global investment firm which manages funds that invest in businesses through acquisitions and corporate restructuring;

    - for ATD: North American distributor of tyres, wheels, accessories and related tyre supplies and tools.

 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) and 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)
                                        Alexander ITALIANER
                                        Director-General

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[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 102, 27/03/2015, p.13.

[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE