Decision Nº M/14/039 from Competition and Consumer Protection Commission, 2015-01-22

Decision NumberM/14/039
PartiesCVC Capital Partners Limited,Sky Bet
StatusCleared (Phase 1)
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Merger Notification No. M/14/039 – CVC/Sky Bet
DETERMINATION
OF
MERGER
NOTIFICATION
M/14/039
-
CVC/SKY
BET
Section 21 of the Competition Act 2002
Proposed acquisition by CVC Capital Partners SICAV-FIS S.A. of sole control of
Sky Bet
Dated 22 January 2015
Introduction
1. On 16 December 2014, in accordance with section 18(1) of the Competition Act 2002,
as amended
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(“the Act”), the Competition and Consumer Protection Commission
(“Commission”) received a notification of a proposed transaction whereby CVC Capital
Partners Limited SICAV-FIS S.A. (together wit h its affiliates “CVC”) would acquire sole
control of Sky Bet, a division of British Sky Broadcasting Limited (“Sky”).
The Undertakings Involved
CVC
2. CVC consists of privately owned advisory entities whose activity is providing investment
advice to and/or managing investments on behalf of investment funds. It specialises in
leveraged buyouts. CVC controls a number of companies in various industries including
chemicals, utilities, manufacturing, retailing and distribution. These companies are
located primarily in Europe, the United States and the Asia-Pacific region.
3. One portfolio company owned by CVC funds is Skrill Limited (“Skrill”), a digital payments
company that operates digital payments networks for local and cross-border
transactions and money transfers. Skrill is a global e-commerce business that provides
a broad range of end-to-end payment products which target both consumers and
merchants and are built on a fully integrated global technology platform. For individual
users, the Skrill payment system offers an online cash account (e-wallet) and an
internet-based alternative to traditional money transfer methods such as cheques,
money orders and wire transfers. Skrill also enables approximately 156,000 merchant
customers to accept online payments via major payment cards, Skrill’s own online
accounts and other local payment methods. Skrill provides online payment services to
several gambling providers in the United Kingdom and in the State.
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It should be noted that the Competition and Consumer Protection Act 2014 made a number of important amendments to the
merger review regime set out in the Competition Act 2002.

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