Decision Nº M/06/063 from Competition and Consumer Protection Commission, 2006-09-26

Date26 September 2006
Decision NumberM/06/063
Parties3i,Selective Beauty
StatusCleared (Phase 1)
Merger Notification M/06/063– 3i/Selective Beauty
DETERMINATION OF MERGER NOTIFICATION M/06/063 –
3i/SELECTIVE BEAUTY
Section 21 of the Competition Act 2002
Proposed acquisition by 3i Gestion SA of Selective Beauty S.A.
Dated 27/09/06
Introduction
1. On 4 September 2006 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 3i Gestion SA
(“3i Gestion”) would acquire sole control of Selective Beauty S.A.
(“Selective Beauty”) via the following investment funds managed by
3i Gestion: 3i Solutions II FCPR, 3i Europartners IVa FCPR, and 3i
Europartners IVbck FCPR.
The Undertakings Involved
2. 3i Gestion, the acquirer, is a wholly owned subsidiary of the 3i
Group Plc an international venture capital and private equity
company headquartered in London and listed on the London Stock
Exchange. Its portfolio of companies consists of businesses in a
wide range of industry sectors and services, including
communication, engineering, food and healthcare. For the financial
year ending 31 March 2006 the 3i Group generated a worldwide
turnover of [€10 billion to €20 billion]. It is active in the State
through the activities of its portfolio of companies and it generated
turnover of [€100 million to €250 million] in the State in the
financial year ending 31 March, 2006.
3. Selective Beauty, the target, is an international manufacturer and
distributor of fragrances and cosmetics for different prestige brands
through the following mechanisms:1
A distribution license – whereby the brands involved outsource
their local sales and marketing functions to Selective Beauty;
and,
A full license – whereby Selective Beauty is granted a full license
by the brands involved to create, manufacture and distribute
product.
1 Selective Beauty is not active at the retail level.

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