CELEX: 32020M9684
Language: en
Date: 2020-03-11 00:00:00
Title: Commission Decision of 11/03/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9684 - PARKS BOTTOM / OMERS / ACCOR / FAIRMONT HOTELS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 11.03.2020
                                                                C(2020) 1664 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9684 – PARKS BOTTOM / OMERS / ACCOR / FAIRMONT
                HOTELS
                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 14 February 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Parks Bottom
        Co Real Estate Holdings Inc. (“Parks Bottom”, Canada), wholly-owned by GIC
        (Realty) Private Limited (“GIC Realty”, Singapore); OMERS Administration
        Corporation (“OMERS”, Canada) and Accor Management Canada Inc. (“Accor”,
        Canada) acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger
        Regulation joint control over Fairmont Banff Springs, Fairmont Chateau Lake Louise,
        Fairmont Jasper Park Lodge and Fairmont Chateau Whistler (“Fairmont Hotels”,
        Canada), by way of purchase of shares,3 by way of contract and by a pre-existing hotel
        management agreement.
2.      The business activities of the undertakings concerned are:
             for Parks Bottom: an indirect subsidiary of GIC Realty which was established for
              the purpose of the acquisition and ownership of the Fairmont Hotels, and which is
              active in Canada. GIC Realty focuses on the ownership of real estate assets on
              behalf of the government of Singapore;
             for OMERS: a global real estate owner, investor, developer and property
              manager;
             for Accor: operates hotels across Canada;
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 58, 21.02.2020, p. 9.
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 Fairmont Hotels: four Canadian luxury hotels.
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