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: 04/10/2021

In electronic form on the EUR-Lex website under document number 32021M10457

EUROPEAN COMMISSION

Brussels, 4.10.2021 C(2021) 7300 final

PUBLIC VERSION

The Carlyle Group 1 St James’s Market SW1Y 4AH London United Kingdom

Dear Sir or Madam,

1.On 10 September 2021, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which The Carlyle Group, Inc. (“Carlyle”, USA) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control over the whole of the undertaking Schaltbau Holding AG (“Schaltbau”, Germany) by way of purchase of shares.

The business activities of the undertakings concerned are:

-− for Carlyle: alternative asset management across three investment disciplines: (i) Private Equity (including corporate private equity, real estate and natural resources funds); (ii) Credit (including liquid credit, illiquid credit and real assets credit); and (iii) Investment Solutions (a private equity fund of funds program which includes primary fund, secondary and related co-investment activities).

-− for Schaltbau: supply of systems and components in the transportation sector, focusing on rail infrastructure, automotive vehicles, rolling stock, e-mobility as well as renewable energy and industrial applications.

1OJ 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.

2OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

3Publication in the Official Journal of the European Union No C 375, 17.09.2021, p. 5.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.

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

4.For the reasons set out in the Notice on a simplified procedure, 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

4OJ C 366, 14.12.2013, p. 5.

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