Prior notification of a concentration (Case M.11110 – EFMS / PSPIB / RADIUS) Candidate case for simplified procedure (Text with EEA relevance) 2023/C 175/10
Date: 2023-05-17
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, holding company, investment company, merger control, property leasing, radio telecommunications, real estate business








C_2023175EN.01001701.xml










17.5.2023   


EN


Official Journal of the European Union


C 175/17






Prior notification of a concentration
(Case M.11110 – EFMS / PSPIB / RADIUS)
Candidate case for simplified procedure
(Text with EEA relevance)
(2023/C 175/10)

1.   
On 5 May 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:






—


EQT Fund Management S.à r.l (‘EFMS’, Luxembourg),










—


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










—


Radius Global Infrastructure, Inc. (‘Radius’, USA).




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


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






—


EFMS acts as fund manager for and on behalf of EQT Active Core Infrastructure (EQT ACI). EQT ACI is an EQT investment fund that seeks to invest in core infrastructure companies that provide essential services to society primarily on Europe and North America.










—


PSPIB is the investment manager of the pension plans of the Canadian Federal Public Service, the Canadian Forces and 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.










—


Radius is the holding company of the AP Wireless group of companies. Through its ownership of AP Wireless, Radius is engaged in the business of aggregating rental streams of sites for wireless and other communication infrastructure sites (e.g., cell sites, data centres) through the acquisition of real property interests and contractual rights. The current AP Wireless portfolio comprises interests in ground, tower, rooftop and in-building cell site leases in 21 countries across Europe, Australia, and North and South America.






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.11110 – EFMS / PSPIB / RADIUS
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.