Decision Nº M/03/036 from Competition and Consumer Protection Commission, 2003-12-31

CourtCompetition and Consumer Protection Commission (Ire)
PartiesTrinity Mirror,3i Group
Date31 December 2003
Decision Date31 December 2003
StatusCleared (Phase 1)
Decision NumberM/03/036
Determination of the Competition Authority
Determination No. M/03/036 of the Competition Authority, dated 31st of
Notification No. M/03/036 – Acquisition by Local Press Limited, a new investee
company of 3i Group plc, of The Derry Journal, Limited and Century Press and
Publishing Limited
Introduction
1. On the 1st of December 2003 the Competition Authority, in accordance with
Section 18 (1) of the Competition Act, 2002 (“the Act”) was notified, on a
mandatory basis, of a proposal whereby Local Press Limited, a new investee
company of 3i Group plc (3i), would acquire the publishing companies The Derry
Journal, Limited and Century Press and Publishing Limited from the Trinity
Mirror plc (Trinity Mirror) group.
The Parties
2. 3i is a venture capital and private equity company that has investments in, inter
alia, software and IT services, healthcare and childcare, real estate, textiles,
frozen foods, general retail, security, building materials, engineering and
machinery.
3. Trinity Mirror is a newspaper publisher, whose subsidiaries, The Derry Journal,
Limited and Century Press and Publishing Limited, publish a number of regional
newspapers, including the Derry Journal, the Donegal Democrat and the
Letterkenny Listener.
Analysis
4. 3i does not carry on business in Ireland in the area of publishing, with the
exception of an insignificant amount of French-language newspapers. Therefore,
there is no significant overlap in the parties’ activities. Accordingly, the
proposed transaction does not give rise to competition concerns.
Determination
The Competition Authority, in accordance with Section 21(2) of the Competition Act,
2002, has determined that, in its opinion, the result of the proposed acquisition will
not be to substantially lessen competition in markets for goods and services in the
State and, accordingly, that the acquisition may be put into effect.
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