Prior notification of a concentration (Case M.9222 — Ivanhoé/Oxford/JV) — Candidate case for simplified procedure (Text with EEA relevance.)
Date: 2018-11-30
Institutions: European Commission
Subjects: economic concentration, investment company, merger control, property market








C_2018432EN.01002401.xml










30.11.2018   


EN


Official Journal of the European Union


C 432/24






Prior notification of a concentration
(Case M.9222 — Ivanhoé/Oxford/JV)
Candidate case for simplified procedure
(Text with EEA relevance)
(2018/C 432/06)

1.   
On 23 November 2018, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Ivanhoé Cambridge (‘Ivanhoé’, Canada),










—


Oxford Properties (‘Oxford’, Canada),




Ivanhoé and Oxford 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 Ivanhoe 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.


2.   
The business activities of the undertakings concerned are:
—   for Ivanhoé: a global real estate investor and a subsidiary of the Canadian 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 infrastructure investments (together, the ‘OMERS Group’). OMERS's principal investment managers are Borealis Infrastructure, OMERS Private Equity, OMERS Strategic Investments and Oxford Properties.


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 the 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 the Notice.


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. The following reference should always be specified:
M.9222 — Ivanhoé/Oxford/JV
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:





E-mail: COMP-MERGER-REGISTRY@ec.europa.eu




Fax +32 22964301




Postal address:




European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







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

(2)  OJ C 366, 14.12.2013, p. 5.