CELEX: 32022M10601
Language: en
Date: 2022-02-21 00:00:00
Title: Commission Decision of 21/02/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10601 - WARBURG PINCUS / OXFORD PROPERTIES / HALE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 21.2.2022
                                                                 C(2022) 1157 final
                                                                                 PUBLIC VERSION
                                                                 Warburg Pincus LLC
                                                                 450 Lexington Avenue
                                                                 New York, NY 10017
                                                                 United States of America
                                                                 Oxford Properties Group
                                                                 One Raffles Quay, #41-01 North
                                                                 Tower
                                                                 Singapore 048583
Subject:        Case M.10601 – WARBURG PINCUS / OXFORD PROPERTIES / HALE
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                (EC) No 139/20041 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 26 January 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Warburg
        Pincus LLC (‘‘Warburg Pincus’’, USA) and Oxford Properties Asia Holdings I Pte.
        Ltd. (‘‘Oxford Properties’’, Canada) acquire within the meaning of Article 3(1)(b) of
        the Merger Regulation joint control over the whole of Hale Capital Group Pty Ltd
        (‘‘Hale’’, Australia) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Warburg Pincus: a global private equity firm active in a variety of sectors,
              including consumer, energy, financial services, healthcare, industrial and business
              services, real estate and technology.
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 69, 10.2.2022, p. 13.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak---        for Oxford Properties: the ownership, development and managing of real estate
        assets. Oxford Properties belongs to the real estate arm of OMERS
        Administration Corporation, the administrator of the Ontario Municipal
        Employees Retirement System Primary Pension Plan and trustee of the pension
        funds.
       for Hale: the development and managing of a portfolio of industrial real estate
        investments in the Asia-Pacific region.
3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(a) and (b) of the Commission Notice on a simplified procedure for
   treatment of certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                  For the Commission
                                                  (Signed)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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