Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves acquisition of Moto Holdings Ltd. by CVC Capital Partners and USS Way LP, (Jan 25, 2016)

By Michael Menzhuber, J.D., LL.M.

The European Commission (EC) has approved under the European Union (EU) merger regulation the acquisition of Moto Holdings Ltd. of the United Kingdom by CVC Capital Partners of Luxembourg and USS Way LP of the United Kingdom, the EC announced today.

CVC and its group companies advise and manage investment funds in various industries such as chemicals, utilities, manufacturing, retailing, and distribution. USS Way belongs to the Universities Superannuation Scheme Limited, one of the largest private sector pension funds in the United Kingdom. Moto Holdings, currently a USS Way subsidiary, is an operator of motor service areas in the United Kingdom.

The EC concluded that the proposed acquisition would raise no competition concerns because no other CVC or USS Way group company is active in the operation of motor service areas.

Proffice AB acquisition. The European Commission (EC) also has approved under the European Union (EU) merger regulation the acquisition of Proffice AB of Sweden by Randstad N.V. of the Netherlands.

Both Randstad and Proffice provide temporary employment services, permanent placement services, and human resources services. Although the companies’ activities overlap in the provision of temporary and permanent employment services in in Denmark, Norway, and Sweden, the EC concluded that the proposed acquisition would raise no competition concerns, given the companies’ moderate combined market positions resulting from the proposed transaction.

Companies: Moto Holdings Ltd; CVC Capital Partners; USS Way LP; Proffice AB; Randstad N.V.

News: AcquisitionsMergers Antitrust