The Service of the Commission for the Protection of Competition received on behalf of CVC Capital Partners SICAV-FIS S.A. (hereafter “CVC”) a notification of a proposed concentration whereby its subsidiary company Sentinel Bidco Limited (hereafter “Sentinel”) shall acquire the share capital of Skrill Group Limited (hereafter “Skrill”).
CVC constitutes a societéanonyme which is duly registered in accordance with the laws of Luxembourg as a specialised investment fund. CVC as well as its subsidiaries and associated companies form part of the CVC group of companies. Said companies (hereafter “CVC Funds”) are privately owned entities whose activities include providing investment advice to and/or managing investments on behalf the CVC Funds. CVC Funds hold interests in a number of companies in various industries including chemicals, utilities, manufacturing, retailing and distribution, primarily in Europe, the U.S. and the Asia-Pacific region. CVC Funds’ companies maintain clients in Cyprus therefore it is considered that CVC Funds is active in Cyprus.
Sentinel is a corporation which is duly registered in accordance with the laws ofthe United Kingdom and is a special purpose vehicle which has been created for the purposes of this concentration and is being indirectly controlled by CVC.
Skrill is a company duly registered in accordance with the laws of Jersey, Channel Islands.It consists of a digital payments company that operates digital payments networks for local and cross-border transactions and money transfers. Skrill's services enable consumers and merchants to make and accept payments online across the globe. Said company has no subsidiary companies in Cyprus however it is active in Cyprus since it maintains clients on the island.