2301003 Informal Interpretation

She inberg, Samuel I.
From: 	HSRHelp
Se nt: 	Thursday, January 26, 2023 12:22 PM
To: 	Walsh, Kathryn E. ; Berg, Ka ren E. ; Musick, Vessel ina; Sheinberg, Samuel I. ; Six, Anne; Wh itehead, Nora;
Fetterman, M iche ll e
S ubj ect : 	FW: Jo int Venture Formation
From: Shaffer, Kristin <ks haffe r@ ftc.gov>
Se
To:
Cc:
Subject: RE: Joint Venture Formation
Ba sed on the description you have provided, w e view the JV's acquisition of Pa rt y A' s assets as separ ate from the
-formation , thu s the JV's acqui si tion of Party A' s assets may be reportabl e.
Best regards,
Kristin
Kri st in Sh affer
Attorney
Pr emerger Notificat ion Office
Federal Trade Commission
202- 326-2388 I kshaf fer@hc. g ov
:00) Eastern Time ( US & Canada)
To: HSRHe lp < HSRHelp@ftc. gov>
Subject: Joint Venture Formation
He ll o,
In connection w ith the format ion of a un incorporated ent ity joint v enture , one ent it y' s asset s (Party A) will be
c ont ri buted to the jo i nt v enture in exchange for ca sh on ly (above $SOM as adjusted). Other part ies wi ll c ont ri bute other
assets or ca sh in exchange fo r membership i ntere st s, but no part y will have a contro lling interest in the nonco r po r ate JV
ent ity. Is Party A's transaction considered a reportab le t r an saction (i.e., a purchase by the joint v enture , assuming the
si ze of the parties thresho ld is met ) or a contr i but ion in the format ion of the jo i nt ventu re which wo uld not be
r eportab le because no one is acquiring a cont rolling interest?
Man y thank s in adv an ce for the guidance.
From:
Sent :

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