Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  18.12.2018  
C(2018 ) 9119 final  
 
 
 
 
To the notifying part ies: 
 
Subject : Case M. 9222 - Ivanhoé/Oxford/JV  
Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) 
No 139/20041 and Article 57 of the Agreement on the European Economic Area2  
Dear Sir or Madam,  
1. On 23 November 2018 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which Ivanhoé Cambridge 
(‘Ivanhoé’, Canada) and Oxford Properties (‘Oxford’, Canada)  will acquire joint control 
within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation over IDI Logistics 
(USA), a subsdiariy of Ivanho é active in the United States of America investing  in and 
developing industrial logistics real estate assets. The concentration is accomplished by way 
of purchase of shares .3 
2. The business activities of the undertakings concerned are:  
- for Ivanhoé : a global real estate investor and a subsidiary of the Canad ian pension 
manager Caisse de dépôt et placement du Québec, who holds around 93 % of the 
ordinary share capital and exercises sole control over Ivanhoé . 
- for Oxford : part of the wider OMERS Group (as defined below). OMERS 
Administration Corporation (‘OMERS’) is the administrator of the Ontario Municipal 
Employees Retirement System Primary Pension Plan and trustee of the pension funds. 
OMERS manages a diversified global portfolio of stocks and bonds as well as real 
estate, private equity and infrastru cture investments (together, the ‘OMERS Group’).  
OMERS's principal investment managers are Borealis Infrastructure, OMERS Private 
Equity, OMERS Strategic Investments and Oxford Properties.  
                                                 
1 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 
'Communi ty' by 'Union ' and 'common market ' by 'internal market '. The terminology of the TFEU will be used 
throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the 'EEA Agreement '). 
3  Publication in the Official Journal of the European Union No C 432, 30.11.2018 , p. 24. 
PUBLIC VERSION  
2 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 
4. For the reaso ns 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 
Articl e 6(1)(b) of the Merger  Regulation  and Article 57 of the EEA Agreement . 
For the Commission  
(Signed)  
Johannes LAITENBERGER  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .