Prior notification of a concentration (Case M.11064 – MACQUARIE / IVANHOE / RHP PARTNERS MANAGER GP / JV) Candidate case for simplified procedure (Text with EEA relevance) 2023/C 114/07
Date: 2023-03-29
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, investment company, merger control, real estate business








C_2023114EN.01001001.xml










29.3.2023   


EN


Official Journal of the European Union


C 114/10






Prior notification of a concentration
(Case M.11064 – MACQUARIE / IVANHOE / RHP PARTNERS MANAGER GP / JV)
Candidate case for simplified procedure
(Text with EEA relevance)
(2023/C 114/07)

1.   
On 21 March 2023, 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 Real Estate Investments Holdings (North America), Inc. (USA, ‘Macquarie’), part of Macquarie Group,










—


RHP Partners-Manager GP, LLC (USA, ‘RHP’),










—


IC USA LP (USA, ‘Ivanhoe’), controlled by Caisse des dépôts et placement du Québec (‘CDPQ’, Canada),










—


RHP Partners III, LP (USA, ‘Joint Venture’).




Macquarie, RHP and Ivanhoe will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the newly established Joint Venture.
The concentration is accomplished by way of contract or any other means.


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






—


Macquarie is active in real estate investment in North America,










—


RHP owns and/or operates manufactured home communities in the United States,










—


Ivanhoe is active in the development of high-quality real estate properties and projects in North America. Its parent company, Ivanhoe Cambridge, is a real estate investor active at a global level.






3.   

The business activities of the Joint Venture will be the following: owning and operating manufactured home communities, and leasing and selling manufactured homes in such communities in the United States.



4.   
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.


5.   
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.11064 – MACQUARIE / IVANHOE / RHP PARTNERS MANAGER GP / JV
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
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.