Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

1.On 1 December 2015, the European Commission received a notification relating to the

intended creation of a 50/50 joint venture between ultimately Embarcadero Maritime LLC (“Embarcadero Maritime”), a company ultimately controlled by KKR & Co. L.P. (“KKR”), and Nordic Tankers A/S (“Nordic Tankers”), a company ultimately controlled by the Triton Managers III and TTF III Limited (“Triton”).

2.Embarcadero Maritime and Nordic Tankers intend to combine their chemical tankers

business with vessels of ICE class notation 1B or higher in Europe, with focus on North-

Western Europe and the Baltic region. For this purpose, the Parties intend to establish a

newly formed and jointly owned limited liability company, the JV. The JV will have a

wholly-owned subsidiary as the management and operating company, who in turn will

have a wholly-owned subsidiary who will own the vessels contributed to the JV by

Embarcadero Maritime and Nordic Tankers.

3.Triton is a group of independent European private equity funds and companies. Triton is

dedicated to investing in medium-sized businesses headquartered in Northern Europe,

with a focus on businesses in three core sectors: Business Services, Industrials and

Consumer/Health.

4.KKR is a global investment firm, which offers a broad range of alternative asset funds and

other investment products to investors and provides capital markets solutions for the firm,

its portfolio companies and other clients.