# C_2015336EN.01000301.xml

| 10.10.2015 | EN | Official Journal of the European Union | C 336/3 |
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10.10.2015

EN

Official Journal of the European Union

C 336/3

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Prior notification of a concentration

(Case M.7776 — BTPS/CPPIB/South Bank Tower Estate)

Candidate case for simplified procedure

(Text with EEA relevance)

(2015/C 336/03)

| 1. | On 5 October 2015, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Britel Fund Nominees Limited as corporate trustee of BT Pension Scheme (‘BTPS’, United Kingdom) and Canada Pension Plan Investment Board (‘CPPIB’, Canada) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the undertaking South Bank Tower Estate (the ‘Target Property’), a real estate property in London (United Kingdom) by way of purchase of assets. |
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1.

On 5 October 2015, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Britel Fund Nominees Limited as corporate trustee of BT Pension Scheme (‘BTPS’, United Kingdom) and Canada Pension Plan Investment Board (‘CPPIB’, Canada) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the undertaking South Bank Tower Estate (the ‘Target Property’), a real estate property in London (United Kingdom) by way of purchase of assets.

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| 2. | The business activities of the undertakings concerned are:
  —   for BTPS: occupational pension scheme established for the benefit of employees of BT Group plc. The activities of BTPS include real estate investment and its broader group is active in bond and equity investment, both in the United Kingdom and overseas,
  —   for CPPIB: investment management organisation that invests the funds of the Canada Pension Plan. CPPIB principally invests in public equities, private equities, real estate, infrastructure and fixed income investments,
  —   for the Target Property: mixed-use property in London combining residential, retail and commercial premises. |
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2.

The business activities of the undertakings concerned are:

—   for BTPS: occupational pension scheme established for the benefit of employees of BT Group plc. The activities of BTPS include real estate investment and its broader group is active in bond and equity investment, both in the United Kingdom and overseas,

for BTPS

—   for CPPIB: investment management organisation that invests the funds of the Canada Pension Plan. CPPIB principally invests in public equities, private equities, real estate, infrastructure and fixed income investments,

for CPPIB

—   for the Target Property: mixed-use property in London combining residential, retail and commercial premises.

for the Target Property

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice. |
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3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice.

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| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number M.7776 — BTPS/CPPIB/South Bank Tower Estate, to the following address:





  European Commission |
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| Directorate-General for Competition |
| Merger Registry |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number M.7776 — BTPS/CPPIB/South Bank Tower Estate, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

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(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

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(2)  OJ C 366, 14.12.2013, p. 5.

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