Prior notification of a concentration (Case M.10609 – EURAZEO / PSPIB / FST HOTELS) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 56/02
Date: 2022-02-03
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, hotel industry, investment company, merger control








C_2022056EN.01000201.xml










3.2.2022   


EN


Official Journal of the European Union


C 56/2






Prior notification of a concentration
(Case M.10609 – EURAZEO / PSPIB / FST HOTELS)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 56/02)

1.   
On 21 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:






—


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










—


Eurazeo SE (‘Eurazeo’, France),










—


FST Hotels, S.L. (‘FST’, Spain).




PSPIB and Eurozeo acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of FST.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are:






—


for PSPIB: the investment manager of the pension plans of the Canadian Federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. PSPIB manages a diversified global portfolio including stocks, bonds and other fixed-income securities as well as investments in private equity, real estate, infrastructure, natural resources and credit investments. PSPIB’s portfolio companies are mainly active in Australia, Asia and North America and have a more limited presence in Europe.










—


for Eurazeo: a listed investment company headquartered in Paris, France, with a portfolio of several billions of euros in diversified assets. Eurazeo has three main activities: private equity, private debt and real assets. Its portfolio companies are mainly active in Europe (mainly in France) and have a more limited presence in the rest of the world.










—


for FST: the operation of hotels in Spain (Barcelona, Cordoba, Madrid and Oviedo) under the brand Ayre Hoteles. FST also owns a plot of land in Portugal (Porto).






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.10609 – EURAZEO / PSPIB / FST HOTELS
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.