Commission Decision of 14/06/2010 declaring a concentration to be compatible with the common market (Case No COMP/M.5872 - WARBURG PINCUS / POUNDLAND) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic) (.PICT.) |EUROPEAN COMMISSION | Brussels , 14.6.2010 SG-Greffe(2010) D/8319 C(2010) 4134 PUBLIC VERSION MERGER PROCEDURE ARTICLE 6(1)(b) DECISION SIMPLIFIED PROCEDURE To the notifying party Dear Madam(s) and/or Sir(s), Subject: Case No COMP/M.5872 - WARBURG PINCUS/ POUNDLAND Notification of 07/05/2010 pursuant to Article 4 of Council Regulation (EC) No 139/2004 [1] Publication in the Official Journal of the European Union No C 129, 19/05/2010, p.
11. 1. On 07/05/2010, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking Warburg Pincus & Co. ("Warburg Pincus", USA) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of Poundland Holdings Limited ("Poundland", UK) by way of purchase of shares. 2. The business activities of the undertakings concerned are: • for Warburg Pincus: private equity investor; • for Poundland: retail sales of daily consumer goods. 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 [2] .
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. For the European Commission, (signed) Alexander ITALIANER Director General [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 C 56, 5.3.2005, p. 32.