Business
Commission clears creation of joint venture by Schroders and Phoenix
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture, Future Growth Capital Limited (‘Griffin'), by Schroders plc and Phoenix Group Holdings plc (‘Phoenix'), all of the UK.
The transaction relates primarily to the fund management, insurance, and pension funding sectors.
The Commission concluded that the notified transaction would not raise competition concerns, given that the joint venture has negligible activities in the European Economic Area, and the companies' limited market positions resulting from the proposed transaction. The notified 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.11556.
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