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Document 52024M11385

Prior notification of a concentration (Case M.11385 – PERMIRA / BLACKSTONE / ADEVINTA) – Candidate case for simplified procedure

PUB/2024/14

OJ C, C/2024/1627, 16.2.2024, ELI: http://data.europa.eu/eli/C/2024/1627/oj (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

ELI: http://data.europa.eu/eli/C/2024/1627/oj

European flag

Official Journal
of the European Union

EN

Series C

C/2024/1627

16.2.2024

Prior notification of a concentration

(Case M.11385 – PERMIRA / BLACKSTONE / ADEVINTA)

Candidate case for simplified procedure

(Text with EEA relevance)

(C/2024/1627)

1.   

On 25 January 2024, 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:

—

Permira Holdings Limited (‘Permira’, Guernesey),

—

Blackstone Inc. (‘Blackstone’, United States), controlled by Blackstone Group Management L.L.C. itself solely controlled by Mr. Stephen A. Schwarzman,

—

Adevinta ASA (‘Adevinta’, Norway).

Permira and Blackstone will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Adevinta.

The concentration is accomplished by way of public bid announced on 21 November 2023 and by way of purchase of shares.

2.   

The business activities of the undertakings concerned are the following:

—

Permira is a private equity business engaged in the provision of investment management services to investment funds. Permira controls several portfolio companies that are active across the consumer, services, healthcare and technology sectors.

—

Blackstone is a global asset manager.

3.   

The business activities of the undertaking Adevinta are the following: global, pure-play online classifieds company active in several jurisdictions across the EU as well as Canada and Brazil.

4.   

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.

5.   

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

Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.11385 – PERMIRA / BLACKSTONE / ADEVINTA

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

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

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

(2)   OJ C 160, 5.5.2023, p. 1.

ELI: http://data.europa.eu/eli/C/2024/1627/oj

ISSN 1977-091X (electronic edition)

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