In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the \u201coperation summary\u201d below, containing the information provided by the parties.<\/p>\n
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.<\/p>\n
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.<\/p>\n
Names of the companies and groups involved:<\/strong><\/p>\n Nature of the operation<\/strong><\/p>\n Economic sectors concerned<\/strong><\/p>\n Deadline for interested third parties to submit their observations<\/strong><\/p>\n NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES<\/strong><\/p>\n The Competition Council has received notification of an economic concentration project involving the acquisition by funds advised or managed by the company \u201cHongShan Capital Advisors Limited\u201d and the company \u201cRosa Investments Pte Ltd\u201d, indirectly owned 100% by the company \u201cTemasek Holdings (Private) Limited\u201d, of the indirect joint control of the company \u201cGolden Goose SpA\u201d and its subsidiaries, through the indirect acquisition of approximately 51.97% by funds advised or managed by the company \u201cHongShan Capital Advisors Limited\u201d and 18.88% by the company \u201cTemasek Holdings (Private) Limited\u201d of the share capital of the company \u201cGG11 SpA\u201d and the voting rights attached thereto, which will in turn indirectly acquire 100% of the share capital of the company \u201cGolden Goose SpA\u201d and the voting rights attached thereto.<\/p>\n \u201cHongShan Capital Advisors Limited\u201d is a limited liability company under Hong Kong law, headquartered in Hong Kong. It is a venture capital and private equity company mainly active in China. The funds managed by \u201cHongShan Capital Advisors Limited\u201d make investments targeting the technology, health, and consumer sectors.<\/p>\n \u201cRosa Investments Pte Ltd\u201d is an investment holding company under Singapore law, headquartered in Singapore, and indirectly owned 100% by the company \u201cTemasek Holdings (Private) Limited\u201d.<\/p>\n \u201cTemasek Holdings (Private) Limited\u201d is an investment company under Singapore law, headquartered in Singapore. With a global network of 13 offices, this company held a net portfolio value of 434 billion Singapore dollars as of March 31, 2025, mainly invested in Singapore and the rest of Asia. Its global portfolio covers a wide range of sectors: transportation and industry, financial services, telecommunications, media and technology, consumer goods and real estate, as well as life sciences and agribusiness.<\/p>\n \u201cGG11 SpA\u201d is an Italian joint-stock company, headquartered in Milan, Italy. It is a holding company indirectly owned 100% by funds advised or managed by \u201cHongShan Capital Advisors Limited\u201d, and which will indirectly hold 100% of the share capital of the company \u201cGolden Goose SpA\u201d and the voting rights attached thereto at the end of the operation.<\/p>\n \u201cGolden Goose SpA\u201d is an Italian joint-stock company, headquartered in Milan, Italy, specializing in the manufacturing and selling of clothing, shoes, and accessories.<\/p>\n <\/p>\n Done in Rabat, March 5, 2026<\/p>\n","protected":false},"excerpt":{"rendered":" In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the \u201coperation summary\u201d below, containing the information provided by the parties. This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation. The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented. Names of the companies and groups involved: Indirect Acquirer of control No. 1: funds advised or managed by the company \u201cHongShan Capital Advisors Limited\u201d; Indirect Acquirer of control No. 2: the company \u201cRosa Investments Pte Ltd\u201d; Direct Acquirer of control: the company \u201cGG11 SpA\u201d; The Target: the company \u201cGolden Goose SpA\u201d and its subsidiaries; Nature of the operation Takeover Economic sectors concerned Manufacturing and selling luxury products. Deadline for interested third parties to submit their observations 10 days from the date of publication of this press release, i.e., March 16, 2026. NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES The Competition Council has received notification of an economic concentration project involving the acquisition by funds advised or managed by the company \u201cHongShan Capital Advisors Limited\u201d and the company \u201cRosa Investments Pte Ltd\u201d, indirectly owned 100% by the company \u201cTemasek Holdings (Private) Limited\u201d, of the indirect joint control of the company \u201cGolden Goose SpA\u201d and its subsidiaries, through the indirect acquisition of approximately 51.97% by funds advised or managed by the company \u201cHongShan Capital Advisors Limited\u201d and 18.88% by the company \u201cTemasek Holdings (Private) Limited\u201d of the share capital of the company \u201cGG11 SpA\u201d and the voting rights attached thereto, which will in turn indirectly acquire 100% of the share capital of the company \u201cGolden Goose SpA\u201d and the voting rights attached thereto. \u201cHongShan Capital Advisors Limited\u201d is a limited liability company under Hong Kong law, headquartered in Hong Kong. It is a venture capital and private equity company mainly active in China. The funds managed by \u201cHongShan Capital Advisors Limited\u201d make investments targeting the technology, health, and consumer sectors. \u201cRosa Investments Pte Ltd\u201d is an investment holding company under Singapore law, headquartered in Singapore, and indirectly owned 100% by the company \u201cTemasek Holdings (Private) Limited\u201d. \u201cTemasek Holdings (Private) Limited\u201d is an investment company under Singapore law, headquartered in Singapore. With a global network of 13 offices, this company held a net portfolio value of 434 billion Singapore dollars as of March 31, 2025, mainly invested in Singapore and the rest of Asia. Its global portfolio covers a wide range of sectors: transportation and industry, financial services, telecommunications, media and technology, consumer goods and real estate, as well as life sciences and agribusiness. \u201cGG11 SpA\u201d is an Italian joint-stock company, headquartered in Milan, Italy. It is a holding company indirectly owned 100% by funds advised or managed by \u201cHongShan Capital Advisors Limited\u201d, and which will indirectly hold 100% of the share capital of the company \u201cGolden Goose SpA\u201d and the voting rights attached thereto at the end of the operation. \u201cGolden Goose SpA\u201d is an Italian joint-stock company, headquartered in Milan, Italy, specializing in the manufacturing and selling of clothing, shoes, and accessories. Done in Rabat, March 5, 2026<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[352],"tags":[],"class_list":["post-47092","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"\n\n
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