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, 25.02.2020  
C(2020 ) 1199 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M.9719 - FFHL / OMERS / RIVERSTONE  
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 30 January 2020 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  the 
undertakings Fairfax Financial Holdings Limited (“FFHL”, Canada) , on the one hand,  
and Kingston Infrastructure Holdings Inc. (“Kingston”, Canada), controlled by 
OMERS Administration Corporation (“OMERS”, Canada),  on the other hand, acquire 
within the meaning of Article  3(1)(b) and Article 3(4) of the Merger Regulation joint 
control of the whole of Riverstone Barbados Limited (“Riverstone”, Barbados) , 
currently solely controlled by FFHL . The concentration is accomplished by way of 
purchase of shares.3 
2. The business activi ties of the undertakings concerned are:  
 FFHL is a holding company engaged in property and casualty insurance and 
reinsurance and associated investment management , 
 OMERS is the administrator of the Ontario M unicipal Employees Retirement 
System Primary Pensi on Plan and trustee of the pension funds. It manages a 
diversified global portfolio of stocks and bonds as well as real estate, private 
equity and inf rastructure investments,  
 Riverstone carries out the management of run -off insurance businesses and 
portfol ios. 
                                                 
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 ’). 
3  Publication in the Official Journal of the European Union No C 40, 06.02.2020 , p. 37. 

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(c) of the Commission Notice on a simplified procedure 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 no tified 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)  
Olivie r GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .