Prior notification of a concentration

(Case M.10556 – BELLIS / KKR / JAJA)

Candidate case for simplified procedure

(Text with EEA relevance)

(2021/C 489/04)

On 26 November 2021, 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:

—	Bellis Phantom Holdco Limited (‘Bellis’, United Kingdom), jointly controlled by Mr. Mohsin Issa and Mr. Zuber Issa (the ‘Issa Brothers’) on the one hand and TDR Capital LLP (‘TDR Capital’) on the other

—	KKR & Co. Inc. (‘KKR’, United States), and

—	Jaja Finance Holding (UK) Limited (‘Jaja’, United Kingdom).

Bellis and KKR acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Jaja.

The concentration is accomplished by way of purchase of shares.

The business activities of the undertakings concerned are:

—	Bellis is a special purpose vehicle, controlled by the Issa Brothers and TDR Capital.

—	The Issa Brothers are founders of the Euro Garages group.

—	TDR Capital is a private equity firm, active in a variety of sectors including motor fuel and grocery retail, gyms and health clubs, pubs and restaurants, debt purchasing, life insurance and others.

—	KKR is a global investment firm that offers alternative asset management and capital markets and insurance solutions.

—	Jaja is active in the UK in the provision of credit card issuing services and co-branded payment solutions.

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

M.10556 – BELLIS / KKR / JAJA

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

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

Fax +32 22964301

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 366, 14.12.2013, p. 5.