CELEX: 32022M10590
Language: en
Date: 2022-02-03 00:00:00
Title: Commission Decision of 03/02/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10590 - PAI PARTNERS / OTPP / VEONET) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 3.2.2022
                                                                 C(2022) 750 final
                                                                                 PUBLIC VERSION
                                                                 PAI Partners SAS
                                                                 232 rue de Rivoli
                                                                 75001 Paris, France
                                                                 Ontario Teachers’ Pension Plan Board
                                                                 10 Portman Square
                                                                 London W1H 6AZ
                                                                 United Kingdom
Subject:        Case M.10590 – PAI PARTNERS / OTPP / VEONET
                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 10 January 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which PAI Partners
        Sàrl (‘PAI Partners’, France), ultimately controlled by PAI Partners SAS, and Ontario
        Teachers’ Pension Plan Board (‘OTPP’, Canada), acquire within the meaning of
        Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Veonet Group
        (Germany) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for PAI Partners: private equity firm, managing a number of funds investing in
              the business services, food & consumer, general industrials, and healthcare
              sectors,
             for OTPP: corporation administering pension benefits and the investment of
              pension plan assets on behalf of active and retired teachers in Ontario,
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 25, 18.1.2022, p. 21.
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 Veonet Group: clinic network of ophthalmological care and outpatient
        treatment for major causes of blindness and visual impairment, offering diagnosis
        as well as surgical and non-invasive treatment of eye disorders.
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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