The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of RAC Group Holdings Limited (‘RAC’) of the UK by Silver Lake Group, L.L.C. (‘Silver Lake’) of the US, CVC Capital Partners SICAV-FIS SAA (‘CVC’) of Luxembourg and Sphinx Investment Pte Ltd (‘Sphinx’) of Singapore.
RAC provides breakdown and other motor-related services in Ireland and the UK. Silver Lake is a global investment firm focused on technology, technology-enabled and related growth industries. CVC advises and manages investment funds with interests in companies active in various industries around the world, primarily in the Asia-Pacific region, Europe, and the US. Sphinx is an investment entity of GIC Special Investments Pte. LTD (‘GICSI’) whose primary business is the management of a diversified global portfolio of investments in private equity, venture capital and infrastructure funds, as well as direct investments in private companies. GICSI’s portfolio includes investments in Asia, the European Economic Area, the UK and the US.
The Commission concluded that the proposed acquisition would raise no competition concerns given its limited impact on the market. The transaction was examined under the simplified merger review procedure.
- Date de publication
- 25 novembre 2021
- Représentation au Luxembourg