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Document 52022M10764

Prior notification of a concentration (Case M.10764 – SAGARD / BPIFRANCE / ADIT JV) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 243/08


OJ C 243, 27.6.2022, p. 55–56 (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)



Official Journal of the European Union

C 243/55

Prior notification of a concentration


Candidate case for simplified procedure

(Text with EEA relevance)

(2022/C 243/08)


On 16 June 2022, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).

This notification concerns the following undertakings:

Sagard SAS (‘Sagard’, France),

Bpifrance Investissement (‘Bpifrance’, France),

ADIT Group (France).

Sagard and Bpifrance acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of ADIT Group.

The concentration is accomplished by way of purchase of shares.


The business activities of the undertakings concerned are:

for Sagard: investment fund management company, active mainly in France. It is controlled by the Power Corporation Group of Canada, an international management and holding company that focuses on financial services in North America, Europe and Asia,

for Bpifrance: investment fund management company, active in France. Bpifrance is ultimately jointly controlled by the French State and the Caisse des Dépôts et des Consignations, a public institution active in the management of private funds,

ADIT Group is active in strategic consultancy and business security, mainly in the European Union.


On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.

Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission no later than ten days following the date on which this notification is published. The following reference should always be specified:


Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:


Fax +32 22964301

Postal address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel


(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.