Case details

Merger control

Case reference

CCENT/2007/55 - BARCLAYS PRIVATE EQUITY/GLOBAL REFUND e GALLAROPOLI

Acquiring

Barclays

Description

(a company under English law), via funds that it advises and manages, provides equity finance for private business, through a range of transaction types, including MBOs (management buyouts), MBIs (management buyins), equity release, expansion capital and public-private business. Via funds that it advises and manages, it also supplies financing to privately financed infrastructure projects;

Acquired

Gallaropoli

Description

(a company under Dutch law), holds 11% of the shares representing the registered capital of Global Refunds and has no other activity besides the ownership of these shares; all operational activities are carried out by Global Refunds and its affiliated companies.

Acquired

Global Refunds Holding

Description

(a company under Dutch law), is a service provider for VAT refunds; it concentrates on supplying international customers (mainly traders) with services involving VAT refunds on purchases, with reimbursement in cash and in the form of credit on their credit cards. This service is offered by the undertaking under the trademark "Tax-Free Shopping";

Sector

Others

Activity (NACE)

N82 - Office administrative, office support and other business support activities

Applicable legislation

Art. 9(1)(a) (Law 18)

Notification thresholds

Market share

Type of merger

Conglomerate

Cooperation with sector regulators

Status

Closed

Type of Investigation

Phase 1

AdC’s decision

Non-opposition

Case description

Notified on 14 August 2007, with effect on 24 August 2007, this merger consists of the acquisition of exclusive control of Global Refunds Holdings BV (Global Refunds") - including the acquisition of two Portuguese subsidiaries, Global Refund Portugal II Lda and Global Refund Portugal Lda - and Gallaropoli BV ("Gallaropoli"), by Barclays Private Equity Limited ("Barclays Private Equity").

Timeline

2007-09-19

COMPETITION AUTHORITY approves acquisition, by Barclays Private Equity Limited, of exclusive control of Global Refunds Holdings BV - including the acquisition of two Portuguese subsidiaries, Global Refund Portugal II Lda and Global Refund Portugal Lda - and Gallaropoli BV, which are active in the provision of VAT refund services; they concentrate on supplying international customers (mainly traders) with services involving VAT refunds on purchases, with reimbursement in cash and in the form of credit on their credit cards. This service is offered by the undertaking under the trademark -Tax-Free Shopping.

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Case details