(CercleFinance.com) – The European Commission has cleared under the EU Merger Regulation the acquisition of joint control of Pink Topco (Pink) of Jersey by Next of the United Kingdom and Warburg Pincus of the United States.
Pink, currently controlled solely by Warburg Pincus, is active in the sale of menswear, womenswear, footwear and accessories under the Reiss brand.
Next is a retailer of men’s, women’s and children’s apparel, lingerie, footwear, homeware, furniture, gifts and own-brand flowers.
The Commission concluded that the proposed acquisition would not raise any competition concerns, given the companies’ moderate combined market position after the proposed transaction and the presence of a number of competitors in the fashion retail sector in all relevant countries.
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