EduBourseActualitésMergers: Commission approves acquisition of joint control of CPI by Electra and...

Mergers: Commission approves acquisition of joint control of CPI by Electra and CVC

The European Commission has cleared, under the EU Merger Regulation, the acquisition of joint control by Electra Partners Europe SA of France and CVC Capital Partners Advisory Company (CVC) of Luxembourg over the monochrome book manufacturing activities of the Chevrillon Philippe Industrie group (CPI) of France. After examining the operation, the Commission concluded that the proposed operation will not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

Electra is a French private equity company, providing fund management services. CVC offers investment and management advice to investment funds.

CPI manufacturers books, operating in the Czech Republic, France, The Netherlands, Germany and the UK.

The proposed joint venture will have vertical effects as a result of the activities of CVC’s portfolio companies in markets upstream of the market for book manufacturing in which CPI is engaged, namely in the printing inks and graphic boards sectors. However, CPI’s limited share of the downstream market for book manufacturing rules out the risk of competition being reduced in the upstream markets for printing inks and solid boards.

The proposed transaction will not create any horizontal overlaps.

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.