CELEX: 32019M9232
Language: en
Date: 2019-01-28 00:00:00
Title: Commission Decision of 28/01/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9232 - Ivanhoe Cambridge Inc / Macquarie Group Ltd / RHP Manager / RHP PLATFORM) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 28.1.2019
                                                                C(2019) 755 final
                                                                        PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9232 – Ivanhoe Cambridge/Macquarie/RHP Manager/RHP Platform
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                             2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 21 December 2018, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the undertakings
        Ivanhoe Cambridge Inc. (‘Ivanhoe’, Canada), Macquarie Real Estate Investments Holdings
        (North America), Inc (‘Macquarie REINHA’, United States of America), belonging to
        Macquarie Group Limited (‘Macquarie’, Australia), and RHP Partners-Manager, LLC
        (‘RHP Manager’, United States of America), acquire within the meaning of Article 3(1)(b)
        and 3(4) of the Merger Regulation joint control over RHP Partners, LLC and RHP AM,
        LLC (together, the ‘RHP Platform’, United States of America, currently controlled by
        Macquarie and RHP Manager) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Ivanhoe: a global real estate investor;
             for Macquarie: a global provider of banking, financial, advisory, investment and funds
              management services, acting on behalf of institutional, corporate and retail clients and
              counterparties around the world;
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 9, 10.01.2019, p. 11.
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 RHP Manager: owns, manages and operates a portfolio of manufactured home
        communities in the United States;
       for RHP Platform: currently holds and manages a portfolio of nine real estate assets
        across the United States.
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) 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)
                                                    Johannes LAITENBERGER
                                                    Director-General
4  OJ C 366, 14.12.2013, p. 5.
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