Prior notification of a concentration (Case M.12578 – BCI / APG / TIG / HANCOCK ASSETS) – Candidate case for simplified procedure
Date: 2026-08-11
Institutions: Directorate-General for Competition, European Commission
Subjects: Chile, economic concentration, forest, investment, investment company, merger control, sustainable forest management, wooded area








C_202604354EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2026/4354


11.8.2026






Prior notification of a concentration
(Case M.12578 – BCI / APG / TIG / HANCOCK ASSETS)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2026/4354)


1.   
On 30 July 2026, 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),










—


APG Asset Management N.V. (‘APG’), controlled by Stichting Pensioenfonds ABP (‘ABP’), both of The Netherlands,










—


BTG Pactual Timberland Investment Group, LLC (‘TIG’), controlled by BTG Pactual G7 Holding S.A, both of the United States,










—


The Target Assets, controlled by Hancock Chilean Plantations SpA (Chile).




BCI, APG and TIG will acquire joint control over the Target Assets within the meaning of Article 3(1)(b) EUMR.
The concentration is accomplished by way of purchase of assets.


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






—


BCI is an agent of the Government of British Columbia in Canada, established pursuant to the Public Sector Pension Plans Act (British Columbia) acting as one of Canada’s largest institutional investors,










—


APG is an asset manager for ABP, the Dutch pension fund for government and education employees in the Netherlands,










—


TIG is a timberland investment management organisation that seeks to deliver sustainable timberland investments to institutional investors at scale,










—


The Target Assets comprise a timberland portfolio of FSC-certified assets located in the Los Ríos and Los Lagos regions of Chile, specifically it consists of 30 300 gross hectares of land and associated contracts.






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 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.


4.   
The Commission invites interested third parties to submit their possible observations on the proposed concentration 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.12578 – BCI / APG / TIG / HANCOCK ASSETS
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/2026/4354/oj
ISSN 1977-091X (electronic edition)