Prior notification of a concentration (Case M.10315 — BCI/ABP/TIG/Certain assets of Arauco) Candidate case for simplified procedure (Text with EEA relevance) 2021/C 236/05
Date: 2021-06-18
Institutions: Directorate-General for Competition, European Commission
Subjects: Chile, economic concentration, forest, investment company, merger control, wooded area








C_2021236EN.01001001.xml










18.6.2021   


EN


Official Journal of the European Union


C 236/10






Prior notification of a concentration
(Case M.10315 — BCI/ABP/TIG/Certain assets of Arauco)
Candidate case for simplified procedure
(Text with EEA relevance)
(2021/C 236/05)

1.   
On 4 June 2021, 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:






—


British Columbia Investment Management Corporation (‘BCI’, Canada);










—


Stichting Pensioenfonds ABP (‘ABP’, the Netherlands);










—


Timberland Investment Group, LLC (‘TIG’), controlled by Banco BTG Pactual S.A. (‘BTG Pactual’, Brazil);










—


BTG Pactual Inversiones Forestales Fondo de Inversión (‘Newco’, Chile); and










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Assets comprising approximately 80 000 hectares of timberlands in the Chilean regions of Maule, Araucanía and Los Lagos (the ‘Target’, Chile).




BCI, ABP and TIG acquire, through their respective interests in Newco, within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of the Target.
The concentration is accomplished by way of purchase of assets and the creation of Newco to acquire and exploit those assets.


2.   
The business activities of the undertakings concerned are:






—


BCI: investor across a range of asset classes, including fixed income, public equities, private equity, infrastructure, renewable resources, real estate and commercial mortgages.










—


ABP: pension fund for government and education employees in the Netherlands.










—


TIG: timberland investments management organisation.










—


Newco: a new Chilean public investment fund jointly controlled by BCI, APB and TIG, created for the purpose of acquiring and exploiting the Target.










—


Target: the Target comprises 80 000 hectares of timberlands in the Chilean regions of Maule, Araucanía and Los Lagos.






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.10315 — BCI/ABP/TIG/Certain assets of Arauco
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:
Email: 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.