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Case No COMP/M.7226 - CARLYLE/ TRAXYS

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REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 02/07/2014

In electronic form on the EUR-Lex website under document number 32014M7226

Office for Publications of the European Union L-2985 Luxembourg

EUROPEAN COMMISSION

Brussels, 2.7.2014 C(2014) 4629 final

PUBLIC VERSION

SIMPLIFIED MERGER PROCEDURE

To the notifying party

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

Subject: Case M.7226 - CARLYLE/ TRAXYS Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004

1.On 26 May 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which funds managed by affiliates of the Carlyle Group L.P ('Carlyle', United States) acquires indirectly through a special purpose acquisition vehicle within the meaning of Article 3(1)(b) of the EU Merger Regulation sole control over T-I Holdings S.à.R.L. ('T-I Holdings', Luxembourg), which wholly owns Traxys S.à.R.L. ('Traxys', United States), by way of purchase of shares.

The business activities of the undertakings concerned are:

-- for Carlyle: the global alternative asset management. Carlyle manages funds that invest globally across different investment disciplines (corporate private equity, real assets, global market strategies and solutions),

-- for Traxys: the commodities trade focused primarily on the sourcing and sale of metals, materials for steel mills and foundries and industrial minerals ('raw materials') and on the provision of ancillary services.

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.

2Publication in the Official Journal of the European Union No C 167, 4.6.2014, p. 16.

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(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 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.

For the Commission

(signed) Alexander ITALIANER Director-General

3OJ C 366, 14.12.2013, p. 5.

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