Prior notification of a concentration (Case M.11047 – EURAZEO / BCI / PCP / BMS) Candidate case for simplified procedure (Text with EEA relevance) 2023/C 282/05
Date: 2023-08-11
Institutions: Directorate-General for Competition, European Commission
Subjects: Canada, France, Ile-de-France, United Kingdom, broker, economic concentration, insurance, investment, investment company, merger control








C_2023282EN.01001801.xml










11.8.2023   


EN


Official Journal of the European Union


C 282/18






Prior notification of a concentration
(Case M.11047 – EURAZEO / BCI / PCP / BMS)
Candidate case for simplified procedure
(Text with EEA relevance)
(2023/C 282/05)

1.   
On 4 August 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:






—


Eurazeo SE (‘Eurazeo’, France),










—


British Columbia Investment Management Corporation (‘BCI’, Canada),










—


Preservation Capital Partners (‘PCP’, United Kingdom),










—


BMS Investment Holding Company Limited (‘BMS’, United Kingdom).




Eurazeo, BCI, and PCP (together, the Parties) will acquire joint control over BMS within the meaning of Articles 3(1)(b) and 3(4) of the EU Merger Regulation. BMS is currently jointly controlled by affiliates of BCI and PCP.
The concentration is accomplished by way of purchase of shares.


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






—


Eurazeo is a listed investment company headquartered in Paris, France active in private equity, private debt and real assets,










—


BCI is an institutional investor based in Canada that invests across a range of asset classes, including fixed income, public equities, private equity, infrastructure, renewable resources, real estate and commercial mortgages,










—


PCP is a private equity firm specialising in investing in market leading businesses that operate within the high growth financial tech and services sector,










—


BMS is a UK-based insurance broker that distributes specialty non-life insurance and reinsurance products to professional clients.






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.11047 – EURAZEO / BCI / PCP / BMS
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.