EN

Case No COMP/M.4383 - APHL / PERMIRA / CLESSIDRA / SISAL

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 09/10/2006

In electronic form on the EUR-Lex website under document number 32006M4383

Office for Official Publications of the European Communities L-2985 Luxembourg

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 09/10/2006 SG-Greffe(2006) D/205687

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

PUBLIC VERSION

To the notifying parties

Dear Madam(s) and/or Sir(s),

Subject: Case No. COMP/M.4383 ñ APHL/ Permira / Clessidra / Sisal Notification of 06.09.2006 pursuant to Article 4 of Council Regulation (EC) No. 1139/2004 Publication in the Official Journal of the European Union No. C 221, 14.9.2006, p.7

1.On 6 September 2006, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertakings Apax Partners Holdings Ltd (ìAPHLî, UK), Permira Holdings Limited ("PHL", UK) and Clessidra SGR SpA ("Clessidra", Italy) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the whole of the undertaking Sisal SpA (ìSisalî, Italy) by way of purchase of shares.

The business activities of the undertakings concerned are:

-- APHL: investment management and investment advisory services to private equity funds;

-- PHL: investment management and investment advisory services to private equity funds;

-- Clessidra: private equity fund;

-- Sisal: betting and gambling.

1OJ L 24, 29.1.2004 p. 1.

Commission europÈenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.

3.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 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.

For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EC) No. 139/2004.

For the Commission, signed Philip LOWE Director General

2OJ C 56 du 05.3.2005, p.32.

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