The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Fenergo Group Limited (‘Fenergo’) of Ireland by Bridgepoint Europe VI Fund (‘Bridgepoint’) of the UK and Astorg VII SCSp (‘Astorg’) of Luxembourg
Fenergo provides software solutions that streamline the end-to-end client lifecycle management processes, aimed specifically at helping banks and financial institutions. Bridgepoint is an international asset management group investing in Europe-focused businesses in a broad range of sectors. Astorg is a European private equity group acquiring global companies and providing strategic guidance, experienced governance and adequate capital. The Commission concluded that the proposed acquisition would raise no competition concerns, given that the companies’ combined and individual market shares remain minimal both for horizontal and vertical relationships in the markets where the companies are active. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission's competition website, in the public case register under the case number M.10303
- 13 Juli 2021