Prior notification of a concentration (Case M.10509 – MIRA / OTPP / PGGM / BCI / OMERS / AIMCO / PUGET) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 25/04
Date: 2022-01-18
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, electrical energy, electricity supply, energy production, energy transport, gas supply, investment, investment company, merger control, natural gas








C_2022025EN.01001901.xml










18.1.2022   


EN


Official Journal of the European Union


C 25/19







Prior notification of a concentration
(Case M.10509 – MIRA / OTPP / PGGM / BCI / OMERS / AIMCO / PUGET)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 25/04)


1.   
On 7 January 2022, 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:






—


Macquarie Infrastructure and Real Assets, Inc. (‘MIRA’, USA), belonging to the Macquarie group (Australia),










—


Ontario Teachers’ Pension Plan Board (‘OTPP’, Canada),










—


PGGM Vermogensbeheer B.V. (‘PGGM’, the Netherlands),










—


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










—


OMERS Administration Corporation (‘OMERS’, Canada),










—


Alberta Investment Management Corporation (‘AIMCo’, Canada),










—


Puget Holdings LLC (‘Puget’, USA).




MIRA, OTPP, PGGM, BCI, OMERS and AIMCo will acquire joint control of Puget, within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation.
The concentration will be accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are:






—


for MIRA: it is a full-service asset manager, providing investment solutions to clients across a range of capabilities, including infrastructure, renewables, real estate, agriculture, transportation finance, equities, fixed income, private credit, and multi-asset solutions,










—


for OTPP: it is concerned with the administration of pension benefits and the investment of pension plan assets on behalf of active and retired teachers in the Canadian province of Ontario,










—


for PGGM: it is a Dutch pension administrator specialised in the administration of collective pensions,










—


for BCI: it is an agent of the Government of British Columbia investing on behalf of public sector clients across a range of asset classes, including fixed income, public equities, private equity, infrastructure, renewable resources, real estate and commercial mortgages,










—


for OMERS: it administers the pension plans for employees of municipal governments, school boards, libraries, police and fire departments, children’s aid societies, and other local agencies across the province of Ontario,










—


for AIMCo: it manages investments, various provincial public pensions and endowments, and certain other entities designated by the Minister of Finance for the Province of Alberta,










—


for Puget: it is active in electricity generation through hydroelectric, coal, natural gas/oil, wind and other resources, as well as transmission and distribution, exclusively in the United States. It is also active in the distribution of natural gas.






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 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.10509 – MIRA / OTPP / PGGM / BCI / OMERS / AIMCO / PUGET
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.