Prior notification of a concentration (Case M.11642 – BCI / SCP / AOA) – Candidate case for simplified procedure
Date: 2024-07-29
Institutions: Directorate-General for Competition, European Commission
Subjects: advertising, communications industry, economic concentration, financial services, investment company, mass media, merger control, provision of services








C_202404785EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/4785


29.7.2024






Prior notification of a concentration
(Case M.11642 – BCI / SCP / AOA)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/4785)


1.   
On 15 July 2024, 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:






—


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










—


Searchlight Capital Partners L.P. (‘SCP’, US).




BCI and SCP will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of AOA Top Tier II L.P. (‘AOA’, US), which is currently solely controlled by SCP.
The concentration is accomplished by way of purchase of shares.


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






—


BCI is an agent of the Government of British Columbia Canada, investing on behalf of public sector clients in fixed income, public equities, private equity, infrastructure, renewable resources, real estate and commercial mortgages,










—


SCP is an investment firm dedicated to identifying and developing global investment opportunities. SCP invests in both private equity and debt and focuses on the following core sectors: (i) communications, (ii) media, (iii) financial services, and (iv) business services.






3.   

AOA is a billboard advertising agency and operator of outdoor advertising displays in the US and Canada that provides digital and static billboards, painted bulletins, sheet posters, junior posters and other outdoor advertising services.



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 treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (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.11642 – BCI / SCP / AOA
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 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2024/4785/oj
ISSN 1977-091X (electronic edition)