CELEX: 32021M10289
Language: en
Date: 2021-06-29 00:00:00
Title: Commission Decision of 29/06/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10289 - PSP / AVIVA / 10 STATION ROAD) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 29.6.2021
                                                                C(2021) 4944 final
                                                                                 PUBLIC VERSION
                                                                Public Sector Pension Investment
                                                                Board
                                                                1250 René Lévesque Boulevard West
                                                                Suite 1400
                                                                H3B 4W8 – Montréal
                                                                Canada
                                                                Aviva Life & Pensions UK Limited
                                                                Wellington Row, York
                                                                YO90 1WR – North Yorkshire
                                                                United Kingdom
Subject:        Case M.10289 – PSP / AVIVA / 10 STATION ROAD
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 4 June 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Public Sector
        Pension Investment Board (“PSP”, Canada) and Aviva Plc Group (“Aviva”, United
        Kingdom) acquire within the meaning of Article 3(1)(b) of the Merger Regulation
        joint control of the whole of 10 Station Road (United Kingdom) by way of purchase
        of assets.3
2.      The business activities of the undertakings concerned are:
        −     for PSP: the pension investment manager of the pension plans of the Canadian
              Federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police
              and the Reserve Force. It manages a diversified global portfolio including stocks,
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 222, 11.6.2021, p. 25.
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---         bonds and other fixed-income securities as well as investments in private equity,
        real estate, infrastructure, natural resources and credit investments,
   −    for Aviva: a UK incorporated listed company operating in the insurance sector.
        Aviva Plc is listed on the main market of the London Stock Exchange. Aviva’s
        group provides a broad range of insurance, savings and investment products
        across 16 countries. Aviva’s group is principally active in the UK, France and
        Canada but also has operations elsewhere in Europe and Asia,
   −    For 10 Station Road: an office building situated on 10 Station Road in
        Cambridge, CB1, United Kingdom.
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)
                                                      Olivier GUERSENT
                                                      Director-General
4  OJ C 366, 14.12.2013, p. 5.
                                                  2