BRIEF—EC clears acquisition of Parexel by Goldman Sachs and EQT

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of clinical research organization (CRO) Parexel by Goldman Sachs Group, both of the USA, and EQT Fund Management of Luxembourg.

Currently owned by Pamplona Capital Management, Parexel provides biopharmaceutical outsourcing services.

Goldman Sachs and EQT are investment management firms with investments in pharmaceutical companies among others.

The Commission concluded that the proposed acquisition would raise no competition concerns given the very limited overlaps between the activities of the companies.

The transaction was examined under the simplified merger review procedure.

The deal announced in July this year has a transaction value of $8.5 billion.

Pamplona Capital Management acquired Parexel in September 2017, for about $5 billion.