Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 4 of Short 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 4

Description of the concentration

This notification concerns:

Red UK Holdco Ltd, a private limited company incorporated in the United Kingdom. Red UK Holdco Ltd is controlled by fund(s) managed and/or advised by affiliates of CB.

Banca Progetto S.p.A., a specialty bank active in the supply of credit services to SMEs (medium-long term loans, including loans assisted by State-backed guarantees, factoring and tax credit service) and private clients (deposit accounts and loans, mainly salary backed loans), mostly, in Italy and (with a focus only on retail deposits accounts) in Germany, Spain and the Netherlands, through agreements with local banks. There are residual activities in the distribution of third-party personal loans (market for retail banking) and in the distribution of insurance products, which, however, are not material in Target’s business and are no longer in place.

With the notified transaction, funds managed and/or advised by CB, via Red UK Holdco Ltd, will acquire sole control of Target under Article 3(1), point (b) of the EUMR. In particular, Red UK Holdco Ltd will acquire all Target’s shares held by BPL Holdco S.à.r.l., which represent 99,82% of the issued share capital of Target.

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