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REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 15/12/2005

In electronic form on the EUR-Lex website under document number 32005M4038

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

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 15.12.2005

SG-Greffe(2005) D/207031

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

PUBLIC VERSION

To the notifying party

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

Subject: Case No. COMP/M.4038 - PAI/ SSK (specialty chemicals) Notification of 17/11/2005 pursuant to Article 4 of Council Regulation (EC) No. 139/2004 Publication in the Official Journal of the European Union No. C 293, 25.11.2005, page 41.

1.On 17/11/2205, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which the undertaking PAI Partners S.A.S. (“PAI”, France) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of all the activities related to specialty chemicals owned by Sydsvenska Kemi AB (“SSK”), by way of purchase of shares.

The business activities of the undertakings concerned are:

-- for PAI: private equity fund;

-- for SSK: production and supply of specialty chemicals, predominately for the coatings market (the compounds business is not part of the transaction).

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

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

5, subparagraph c, 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) Neelie KROES Member of the Commission

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