Prior notification of a concentration (Case M.10720 – IVANHOE CAMBRIDGE / MUBADALA / DUTCH RESIDENTIAL INVESTMENTS IV) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 228/07
Date: 2022-06-13
Institutions: Directorate-General for Competition, European Commission
Subjects: Netherlands, United Arab Emirates, economic concentration, housing, investment company, merger control, ownership, property market, real estate business








C_2022228EN.01000701.xml










13.6.2022   


EN


Official Journal of the European Union


C 228/7






Prior notification of a concentration
(Case M.10720 – IVANHOE CAMBRIDGE / MUBADALA / DUTCH RESIDENTIAL INVESTMENTS IV)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 228/07)

1.   
On 3 June 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:






—


Ivanhoe Cambridge Inc. (Canada, ‘Ivanhoe Cambridge’), controlled by Caisse de dépôt et placement du Québec (‘CDPQ’),










—


Mubadala Investment Company PJSC (United Arab Emirates, ‘Mubadala’),










—


Dutch Residential Investments IV B.V. (Netherlands, ‘DRI IV’).




Ivanhoe Cambridge and Mobadala will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of DRI IV.
The concentration is accomplished by way of contract or any other means.


2.   
The business activities of the undertakings concerned are the following:






—


Ivanhoe Cambridge: a global real estate investor. Its parent company, CDPQ is a Canadian institutional fund manager,










—


Mubadala: an investment vehicle of the Government of Abu Dhabi, which manages a diverse portfolio of assets and investments in the United Arab Emirates and abroad. Mubadala is active in investing in a wide range of sectors, including energy, utilities, real estate, basic industries and services,










—


DRI IV: acquisition of residential units across the Netherlands with the intention of owning, developing, and/or selling such assets.






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.10720 – IVANHOE CAMBRIDGE / MUBADALA / DUTCH RESIDENTIAL INVESTMENTS IV
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.