The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014, concerning the acquisition of Ascendis Health Ltd, by Letterone Investment Holdings SA and affiliated funds of Blantyre Capital Ltd, via CreditorCo.
Letterone Investment Holdings SA is a private investment holding company, based in Luxembourg. This company is mainly active in the fields of health care, telecommunications, technology and retail. In particular, LetterOne Investment Holdings SA invests in telecommunications and technology through L1 Technology, in the healthcare sector through L1 Health and in the retail sector through L1 Retail. LetterOne Treasury manages the liquidity and financial investments of LetterOne Investment Holdings SA.
Blantyre Capital Limited is an investment company duly registered in accordance with the laws of the United Kingdom. The Blantyre Group focuses on working with European companies to restart good businesses with temporary financial problems.
CreditorCo is a special purpose vehicle which will be controlled by Letterone Investment Holdings SA and Blantyre Capital Ltd and will be the immediate acquiring company in this transaction.
The Target of this concentration is the European business of Ascendis Health Ltd. It consists of the following a) Remedica Ltd, a company duly registered under the laws of the Republic of Cyprus, specializing in the development, production and sale of high quality, safe and effective pharmaceutical products for human use b) Farmalider, S.A., a company duly registered under the laws of Spain. It is active in the research, development and manufacture of pharmaceutical products (c) Sun Wave Pharma, a business which focuses mainly on the Romanian market and consists of two companies (i) Ascendis Wellness SRL, a limited liability company based in Romania. Ascendis Wellness mainly distributes nutritional supplements in the Romanian market. (ii) SunWave Pharma International Ltd (formerly Remedica IP Limited), a company duly registered in accordance with the Laws of the Republic of Cyprus, which specializes in the distribution of pharmaceutical products, food supplements and other related products.