EU competition law


Backers: Colony Capital

Business description: Sports holding company

Deal value: Undisclosed

Notified: 14/03/08

Cleared: 17/04/08

The EU has approved the purchase of Colfilm, the holding company of French football club Paris Saint-Germain, by US private equity firm Colony Capital. The deal involves Colony purchasing 1.4 million shares in Colfilm, which also owns Holdings Sports & Evenements and Societe d’Exploitation Sports et Evenements.

The company is being sold by Butler Capital Partners and FCPR France Private Equity.

Morrison US

Backers: Cognetas

Business description:

Deal value: £135m

Notified: 19/03/08

Provisional deadline: 28/04/08

Cognetas and Englefield Capital are to jointly acquire Morrison Utility Services, part of Anglian Water Group, for £135m (€177m). Cognetas and Englefield Capital will be investing alongside the management team.

Morrison US, which is headquartered in Stevenage, Hertfordshire, is one of the UK and Ireland’s leading service providers within the electricity, gas, telecommunication and water sectors. Operating under long-term contracts, it is a key provider of outsourced services to a broad range of blue chip utility companies.

Morrison US employs more than 3,300 people and has turnover of approximately £500m for the year ended March 2008 with a contracted order book in excess of £1.4bn.


Backers: Altor Fund II

Business description: Paper producer

Deal value: €621m

Notified: 14/03/08

Cleared: 17/04/08

The European Commission has approved the purchase of Papyrus by Altor Fund II. Papyrus is a paper merchant based in Sweden, and with a presence in 22 European countries and employs 3 100 people. It generated net sales of €2bn in 2007, and supplied 1.9 million tonnes of paper per year.. Papyrus is represented locally both under its own brand name and as Schneidersöhne, Sihl+Eika, Scaldia and Classen-Papier.

Pret A Manger

Backers: Bridgepoint

Business description: Food chain

Deal value: Undisclosed

Notified: 22/02/07

Cleared: 02/04/08

The EU has approved the purchase of Pret A Manger by UK mid-market private equity firm Bridgepoint. Pret A Manger is a UK retailer of ready-to-eat sandwiches, salads and drinks.Under the terms of the transaction, the founders and management, including Sinclair Beecham and Julian Metcalfe, will make a significant re-investment in the business. McDonald’s, which acquired a 33% share in Pret in 2001, will no longer be part of the business.

Founded in 1986, Pret A Manger has 200 shops (175 in the UK, 14 in the US, 11 in Hong Kong), employs almost 4,000 people and had sales in 2007 of £223m (£194m in 2006).


Backers: Nordic Capital

Business description: IT

Deal value: €1.1bn

Notified: 28/03/08

Provisional deadline: 06/05/08

Nordic Capital’s portfolio company Cidron Services is to but Finnish IT services company TietoEnator Corporation for €1.1bn. Cidron, which already holds a 4.4% stake in the target, said the offer is subject to a 90% shareholder acceptance rate. The TietoEnator Corporation board is currently evaluating the offer.

The company holds a leading position as a full-scale IT services provider in its home market in the Nordic countries and the Baltic Rim. In the international market, TietoEnator focuses on selected competence areas, aiming to bolster its leadership as the partner for telecom R&D services and its good market position in the forest and oil & gas industries.