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: 26/02/2024

In electronic form on the EUR-Lex website under document number 32024M11431

EUROPEAN COMMISSION

Brussels, 26.2.2024 C(2024) 1359 final

PUBLIC VERSION

Permira Holdings Limited Bockenheimer Landstrasse 33 60325 Frankfurt am Main Germany

Hg Pooled Management Limited 2 More London Riverside SE1 2AP London United Kingdom

Dear Sir or Madam,

(1) On 2 February 2024, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which Permira Holdings Limited (“Permira”, Germany) and Hg Pooled Management Limited (“Hg”, UK) will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of GGW Group GmbH (‘GGW’, Germany), which is currently solely controlled by Hg, by way of Permira’s purchase of shares 3 in GGW. ( )

(2) The business activities of the undertakings concerned are the following:

– Permira is a private equity investment firm,

– Hg is a private equity investment firm.

(3) GGW is the holding company of a number of insurance brokers and underwriting agents mainly based in Germany.

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

3 ( ) OJ C, C/2024/1455, 8.2.2024.

Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË – Tel. +32 22991111

(4) 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(c) of the Commission Notice on a simplified treatment for certain 4 concentrations under Council Regulation (EC) No 139/2004. ()

(5) For the reasons set out in the Notice on a simplified treatment, 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

4 ( ) OJ C 160, 5.5.2023, p. 1 (the ‘Notice on a simplified treatment’).

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