Commission Decision of 30/09/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.5958 - GS / TPG / ONTEX) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

What Commission Decision of 30/09/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.5958 - GS / TPG / ONTEX) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic) requires

On 26 August 2010, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004, by which Goldman Sachs Group, Inc. and TPG Holdings I, L.P. acquire joint control of Ontex International N.V. by way of purchase of shares. Goldman Sachs and TPG each agreed to indirectly acquire 50% of the equity in Whitelabel IV, an acquisition vehicle formed for the purposes of the transaction, and will, on the basis of the corporate governance rules, indirectly exercise joint control over Ontex. The operation constitutes a concentration within the meaning of Article 3(1)(b) of the Merger Regulation. The undertakings concerned have a combined aggregate world-wide turnover of more than EUR 5,000 million, and each has an EU-wide turnover in excess of EUR 250 million, giving the notified operation an EU dimension pursuant to Article 1(2) of the Merger Regulation. The Commission assessed horizontal and vertical competitive effects, finding no horizontal overlaps and no serious doubts as to input or customer foreclosure arising from the vertical relationship between Vita (a nonwovens supplier controlled by TPG) and Ontex. The European Commission decided not to oppose the notified operation and declared it compatible with the internal market and with the EEA Agreement, in application of Article 6(1)(b) of the Merger Regulation.

Pillar: Legal & IP Sovereignty · Authority: European Commission · Version: 1.0.0 · Last updated: 2010-09-30

Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32010M5958

SHA-256 integrity: e6d419279c781d4b07e74b4014c92e6bc09ecf9a79fb70827379a8c53bde77db

Primary Citations — 8 traced to source

• Paragraph 1: 'On 26/08/2010, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertakings Goldman Sachs Group, Inc. ("Goldman Sachs", USA) and TPG Holdings I, L.P. ("TPG", USA) controlled by TPG Group Holdings (SBS) Advisors, Inc. acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the undertaking Ontex International N.V. ("Ontex", Belgium) by way of purchase of shares.'
• Paragraph 6: 'Goldman Sachs and TPG have each agreed to indirectly acquire 50% of the equity in Whitelabel IV, and will, on the basis of the corporate governance rules, indirectly exercise joint control over Ontex.'

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