Prior notification of a concentration (Case M.11943 – MULTIPLY / CVC / PAI / TENDAM) – Candidate case for simplified procedure

Official Journal of the European Union C/2025/3337 16.6.2025 Prior notification of a concentration (Case M.11943 – MULTIPLY / CVC / PAI / TENDAM) Candidate case for simplified procedure (Text with EEA relevance) (C/2025/3337) EN C series 1. On 3 June 2025, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1). This notification concerns the following undertakings: —Multiply Group PJSC (‘Multiply’, United Arab Emirates), ultimately controlled by International Holding Company PJSC (‘IHC’, United Arab Emirates), —CVC Capital Partners plc (‘CVC’, Jersey) through Llano Holdings S.à r.l. (‘Llano’, Luxembourg), —PAI Partners, S.A.S (‘PAI’, Luxembourg), —Tendam Brands, S.A.U. (‘Tendam’, Spain). Multiply, CVC and PAI will acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of Tendam. The concentration is accomplished by way of purchase of shares. 2. The business activities of the undertakings concerned are the following: —Multiply: invests in transformative businesses worldwide. —CVC: provides advice to and manages investment funds and platforms worldwide. —PAI: manages a number of funds investing in the business services, food & consumer, general industrials and healthcare sectors. —Tendam: is active in the design, sourcing, marketing, sale and distribution of premium mass market apparel for men and women through directly...