PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
Ccent/2023/38 - Albus*USSL*Aatif Hassan / Dukes Education
Acquiring
Aatif Hassan
Description
Chairman and founder of Dukes Education, which does not control any other company operating in Portugal.
Acquiring
Albus Bidco Limited
Description
Company indirectly controlled by investment funds, vehicles and/or accounts advised and managed by subsidiaries of KKR & Co. Inc. (“KKR”). KKR is a global investment firm offering alternative asset management, as well as capital markets and insurance solutions. In Portugal, investment funds managed by KKR control entities whose portfolio has activ
Acquired
Dukes Education Group Ltd.
Description
Explores further/extracurricular education establishments/services, summer camps, summer schools. In Portugal, it acquired the United Lisbon International School, offering the pre-school cycle up to the 12th grade; the International Sharing School, offering from kindergarten to 12th grade and Colégio Júlio Diniz, a private school with a Portuguese teaching programme.
Acquiring
Universities Superannuation Scheme Limited
Description
Administers the pension fund for employees of universities and higher education institutions in the UK, providing retirement and sickness support services, and offers life insurance. In Portugal it is active in the energy, transport and education sectors, in this case through Dukes Education.
Sector
  • Education
Activity (NACE)
  • P8510 - Pre-primary education
Applicable legislation
Art. 37(1)(c) (Law 19)
Notification thresholds
Turnover threshold
Type of merger
Conglomerate
Cooperation with sector regulators
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Non-opposition
Case description

The merger in question consists of the acquisition by Albus Bidco Limited (“Albus”), together with the existing shareholders, Universities Superannuation Scheme Limited (“USSL”) and Mr. Aatif Hassan (“Founder”), jointly controlled by Dukes Education Group Ltd (“Dukes Education”).
Timeline
2023-08-02
The AdC issued a non-opposition decision to the merger 38/2023 - Albus*USSL*Aatif Hassan / Dukes Education.
2023-07-17
Entities Albus, USSL and Mr. Aatif Hassan notify the acquisition of joint control over Dukes Education.
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