EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 08/06/2022

In electronic form on the EUR-Lex website under document number 32022M10705

EUROPEAN COMMISSION

Brussels, 8.6.2022 C(2022) 3945 final

PUBLIC VERSION

Blackstone Inc. 345 Park Avenue NY 10154 - New York United States of America

The Goldman Sachs Group, Inc. Plumtree Court 25 Shoe Lane EC4A 4AU - London United Kingdom

The Carlyle Group, Inc. 1 St. James's Market SW1Y 4AH - London United Kingdom

Dear Sir or Madam,

1.1. On 12 May 2022, the European Commission received notification of a proposed concentration pursuant to Article 4 and following a referral pursuant to Article 4(5) of the Merger Regulation by which Carlyle Group, Inc. (“Carlyle”, United States), Blackstone Inc. (“Blackstone”, United States) and Goldman Sachs Group, Inc. (“Goldman Sachs”, United States) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of Prima Assicurazioni S.p.A. (“Prima” or the “Target”, Italy), which is currently jointly controlled by Blackstone

1OJ 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.

2OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.

and a private individual. The concentration is accomplished by way of purchase of shares and of contract.

2. The business activities of the undertakings concerned are the following:

-- Blackstone is a global asset management firm that manages funds,

-- Carlyle is a global asset management firm that manages funds in three main investment disciplines: (i) global private equity, (ii) global credit and (iii) investment solutions,

-- Goldman Sachs is a global investment banking, securities and investment management firm providing services to corporations, financial institutions, governments and individuals,

-- Prima is an intermediary distributing non-life car, motorcycle, vans (including road assistance) and home and family private liability insurances in Italy.

3.3. 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.

4.4. 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 and Article 57 of the EEA Agreement.

For the Commission

(Signed) Olivier GUERSENT Director-General

3Publication in the Official Journal of the European Union No C 202, 19.05.2022, p. 19.

4OJ C 366, 14.12.2013, p. 5.

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