Brussels, 24 January 2025
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Permira Holding Limited (‘Permira’) of the United Kingdom and BasicNet S.p.A. (‘BasicNet’) of Italy.
The transaction relates primarily to the retail of apparel and footwear.
The Commission concluded that the notified transaction would not raise competition concerns, given 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.11808.