CELEX: 32020M9681
Language: en
Date: 2020-02-28 00:00:00
Title: Commission Decision of 28/02/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9681 - INFLEXION / ICG / MARSTON) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 28.02.2020
                                                                C(2020) 1275 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9681 – INFLEXION / ICG / MARSTON
                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 February 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Inflexion
        Private Equity Partners LLP (“Inflexion”, United Kingdom) and Intermediate Capital
        Group plc (“ICG”, United Kingdom) acquire within the meaning of Article 3(1)(b)
        and 3(4) of the Merger Regulation joint control over the whole of Marston Corporate
        Limited and its direct and indirect subsidiaries (“Marston”, United Kingdom) by way
        of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Inflexion: private equity firm with a range of investors from large institutions
              to individuals,
             for ICG: asset manager, active in the structuring and provision of mezzanine
              finance, leveraged credit and private equity in Europe, Asia Pacific and the USA,
             for Marston: transportation and debt enforcement service provider in the United
              Kingdom.
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
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 48, 12.02.2020, p. 20.
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---    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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