Prior notification of a concentration (Case M.10621 – Welput/PSPIB/Alecta/ 105 VStreet JV) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 72/08
Date: 2022-02-14
Institutions: Directorate-General for Competition, European Commission
Subjects: London, economic concentration, investment company, merger control, pension scheme, real estate business








C_2022072EN.01000801.xml










14.2.2022   


EN


Official Journal of the European Union


C 72/8






Prior notification of a concentration
(Case M.10621 – Welput/PSPIB/Alecta/ 105 VStreet JV)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 72/08)

1.   
On 3 February 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:






—


West End of London Property Unit Trust (‘Welput’, Jersey);










—


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










—


Alecta Tjänstepension Ömsesidigt (‘Alecta’, Sweden); and,










—


105VS Holdings Unit Trust (‘105 VStreet’, Jersey).




Welput, PSPIB and Alecta acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of 105 VStreet.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are:






—


for Welput: property unit trust. It is a collective investment scheme for the purposes of the UK Financial Services and Markets Act 2000. Welput is active exclusively in central London in the United Kingdom;










—


for PSPIB: pension investment manager of the pension plans of the Canadian Federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. It 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;










—


for Alecta: pension fund that manages the occupational pensions of private individuals and companies in Sweden. Alecta’s investments portfolio includes investments in fixed income, equities and real estate; and,










—


for 105 VStreet: real estate property located at 105 Victoria Street, London.






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.10621 – Welput/PSPIB/Alecta/ 105 VStreet JV
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.