The Commission has approved the proposed acquisition of joint control over Elixia group, of Norway and Health&Fitness Nordic ("HFN"), of Sweden by Altor Fund, of the United Kingdom and TryghedsGruppen, of Denmark. Altor Fund and TryghedsGruppen are private equity funds. Elixia operates fitness clubs in Finland, Norway and Sweden. HFN operates fitness clubs in Denmark, Finland, Norway and Sweden. Following the parties' request, the Commission referred the Finnish and Norwegian parts of the transaction to the Finnish and Norwegian competition authorities respectively. The Commission assessed the remainder of the transaction, concerning Denmark and Sweden and concluded that the proposed acquisition would not raise any competition concerns in Sweden, the only country where the activities of Elixia and HFN overlap. The Commission found in particular that the combined market shares of the proposed entity in the relevant markets for the operation of fitness clubs will remain limited and that the proposed entity will continue to face numerous competitors of similar size. The Commission's decision is without prejudice to the outcome of the investigations of the Finnish and Norwegian competition authorities. Source: Commission Press Release 2/12/2013
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Commission approves acquisition of joint control of Elixia Group and Health&Fitness Nordic by Altor Fund and TryghedsGruppen
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