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, 16.03.2021  
C(2021 ) 1896 final   
PUBLIC VERSION  
AustralianSuper Pty Ltd   
Level 33, 50 Lonsdale Street  
VIC 3000  – Melbourne  
Australia  
 
Canada Pension Plan Investment Board  
One Queen Street East  
Suite 2500  
M5C 2W5  – Toronto, ON 
Canada   
 
Transurban International Ltd.  
Level 3 1, Tower Five, Collins Square  
727 Collins Street  
Docklands Victoria 3008  
Australia  
Subject : Case M. 10183  – AUSTRALIANSUPER / CPPIB / TRANSURBAN / 
TRANSURBAN CHESAPEAKE  
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 22 February 2021 , the European Commission received notification of a proposed 
conc entration pursuant to Article 4 of the Merger  Regulation by which 
AustralianSuper Pty Ltd as trustee of AustralianSuper (“AustralianSuper”, Australia), 
Canada Pension Plan Investment Board (“CPPIB”, Canada) and Transurban 
International Ltd (“Transurban”, Australia) acquire within the meaning of Article 
3(1)(b) and 3(4) o f the Merger Regulation joint control of the whole of Transurban 
                                                 
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 ‘Community ’ 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 ’). 

2 Chesapeake LLC (“Transurban Chesapeake”,  USA) , controlled by Transurban , by 
way of purchase of shares .3 
2. The business activities of the undertakings concerned are:  
 for AustralianSuper : Austral ia’s largest industry superannuation and pension 
fund. Headquartered in Melbourne , it has primarily invested in Australia but has 
in recent years expanded its global investment activities , 
 for CPPIB : an investment management organization that invests the f unds 
transferred to it by the Canada Pension Plan. CPPIB principally invests in public 
equities, private equities, real estate, infrastructure and fixed income investments  
at global level,  
 for Transurban : a toll road operator company that manages and devel ops urban 
toll road networks in Australia, Canada and the United States.  It is listed on the 
Australian Securities Exchange , 
 for Transurban Chesapeake : company engaged in the development, maintenance, 
operation and marketing  of toll roads in the greater Washington, D.C., area of the 
USA. 
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 proce dure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
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  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
3  Publication in the Official Journal of the European Union No C 71, 1.3.2021 , p. 64. 
4  OJ C 366, 14.12.2013, p. 5 .