# m8774.docx

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EUROPEAN COMMISSION

Brussels,5.2.2018

C(2018) 756 final

PUBLIC VERSION

To the notifying parties

To the notifying parties

Subject:Case M.8774 - IVANHOE CAMBRIDGE / QUADREAL PROPERTY GROUP / JV

Subject

:

Case

M.8774

-

IVANHOE CAMBRIDGE / QUADREAL PROPERTY GROUP / JV

1

  2
  Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 and Article 57 of the Agreement on the European Economic Area

1

2

Commission decision pursuant to Article 6(1

)(

b) of Council Regulation (EC)

No

139/2004

and Article 57 of the Agreement on the European Economic Area

Dear Sir or Madam,

Dear Sir or Madam,

1.On 10 January 2018, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings Ivanhoe Cambridge (Canada) and QuadReal Property Group (Canada) acquire within the meaning of Article 3(1)(b) and Article 3(4) of the Merger Regulation joint control over the whole of the undertaking Logos India Logistics Venture Pte Ltd (the ‘JV’, Singapore) by way of purchase of shares.
  3

1.

On

10 January 2018

,

the

European

Commission received notification of a proposed concentration pursuant to Article 4 of

the

Merger

Regulation by which

the undertakings

Ivanhoe Cambridge (Canada) and

QuadReal

Property Group (Canada)

acquire within the meaning of Article 3(1

)(

b)

and Article 3(4)

of the Merger Regulation joint control over the whole of the undertaking

Logos India Logistics Venture Pte Ltd (the ‘JV’, Singapore)

by way of purchase of shares

.

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2.The business activities of the undertakings concerned are:

2.

The business activities of the undertakings concerned are:

—   for Ivanhoe Cambridge: global real estate investor and a subsidiary of the Canadian fund manager Caisse de depot et placement du Québec,

—

for Ivanhoe Cambridge

: global real estate investor and a subsidiary of the Canadian fund manager Caisse de depot et placement du Québec,

—   for QuadReal Property: global real estate investor and a subsidiary of British Columbia Investment Management Corporation,

—

for QuadReal Property

: global real estate investor and a subsidiary of British Columbia Investment Management Corporation,

—   for the JV: holding vehicle investing in real estate in India.

—

for the JV

: holding vehicle investing in real estate in India.

3.After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.
  4

3.

After examination of the notification, the

European

Commission has concluded that the notified operation falls within the scope of

the

Merger

Regulation

and of paragraph

5

(

a

)

of

the

Commission Notice on a simplified procedure for treatment of certain concentrations under

Council Regulation (EC)

No

139/2004

.

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4.For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

4.

For the reasons set out in the Notice on a simplified procedure, the

European

Commission has decided not to oppose the notified operation and to declare it compatible with the

internal

market and with the EEA Agreement. This decision is adopted in application of Article 6(1

)(

b) of

the

Merger

Regulation

and Article 57 of the EEA Agreement

.

For the Commission

For the Commission

(signed)

(

signed

)

Johannes LAITENBERGER
  Director-General

OJ L 24, 29.1.2004, p. 1 (the 'Merger Regulation'). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ('TFEU') has introduced certain changes, such as the replacement of 'Community' by 'Union' and 'common market' by 'internal market'. The terminology of the TFEU will be used throughout this decision.

OJ C 366, 14.12.2013, p. 5.