Prior notification of a concentration (Case M.9419 — PSP/Welltower/SRG/Senior Housing Property) — Candidate case for simplified procedure (Text with EEA relevance.)
Date: 2019-07-09
Institutions: European Commission
Subjects: economic concentration, merger control, pension fund, social facilities








C_2019231EN.01000501.xml










9.7.2019   


EN


Official Journal of the European Union


C 231/5






Prior notification of a concentration
(Case M.9419 — PSP/Welltower/SRG/Senior Housing Property)
Candidate case for simplified procedure
(Text with EEA relevance)
(2019/C 231/06)

1.   
On 1 July 2019, 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:






—


Public Sector Pension Investment Board (‘PSP’, Canada),










—


Welltower Inc. (‘Welltower’, USA),










—


SRG Partners, LLC (‘SRG’, USA),










—


Senior housing property known as ‘Peninsula Del Rey’ (‘Peninsula Del Rey’, USA).




PSP, Welltower and SRG acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Peninsula Del Rey.
The concentration is accomplished by way of purchase of assets.


2.   
The business activities of the undertakings concerned are:
—   for PSP: the pension investment manager of several Canadian pension plans, including the pension plan of the Canadian Federal Public Service and the Canadian Forces. PSP manages a diversified global fixed-securities portfolio as well as investments in private equity, real estate, infrastructure, natural resources and private debt,
—   for Welltower: invests in properties concentrated in major high-growth markets, consisting of seniors' housing and post-acute communities, and outpatient medical properties in the USA, Canada and the UK,
—   for SRG: owns, manages and develops senior housing communities in the USA,
—   for Peninsula Del Rey: a senior housing property located at 165 Pierce Street in Daly City, San Mateo County, California, USA.


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.9419 — PSP/Welltower/SRG/Senior Housing Property
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.