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EU Commission clears acquisition of joint control of Axel Springer by Canada Pension Plan Investment Board and KKR

Source: EU Commission

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Axel Springer SE of Germany by Canada Pension Plan Investment Board of Canada (“CCPIB”) of Canada and KKR & Co. Inc. (“KKR”) of the US. 
 Axel Springer is a media company active in more than 40 countries worldwide. CCPIB is an in investment firm acting for the Canada Pension Plan Fund. KKR provides asset management services and capital market solutions. The Commission concluded that the proposed acquisition would raise no competition concerns because of the moderate combined market position in the areas where the companies' activities overlap. 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.9864.