Mergers: Commission clears acquisition of the Vita Group by Strategic Value Partners
The European Commission has approved, under the EU Merger Regulation, the acquisition of Vita Cayman Limited, the ultimate holding company of the Vita Group, of the UK by Strategic Value Partners, LLC of the US. The Vita Group is a pan-European manufacturer and supplier of polyurethane foam, including production of foam and conversion of foam. Strategic Value Partners, LLC is a privately owned investment firm that manages hedge funds and private equity funds, and invests in public and private equity markets, debt markets and other alternative investment markets world-wide. The Commission concluded that the proposed acquisition would raise no competition concerns given the lack of horizontal overlaps and vertical links between the activities of the Vita Group and the other portfolio companies of Strategic Value Partners, LLC. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.8830.
Commissioner Stylianides visits Lebanon
Commissioner for Humanitarian Aid and Crisis Management Christos Stylianides is in Lebanon today. He will meet with Lebanese officials: Speaker of Parliament Nabih Berri, Prime Minister Saad Hariri, Social Affairs Minister Pierre Bou Assi and Minister of State for Displaced Affairs Mouin Merhebi. Discussions will be on the relations between the European Union and Lebanon, as well as on the humanitarian situation in Lebanon and the region. He will also discuss ways to assist Lebanon to continue to address the Syrian refugee crisis and how to further support host communities. The Commissioner will also deliver a speech at the opening ceremony of the conference: “Diversity in Unity and Fundamental Freedoms for Christians and Muslims in the Middle East: A Conference for Parliamentary Dialogue” that is held at the Lebanese Parliament.