CELEX: 32021M10443
Language: en
Date: 2021-10-20 00:00:00
Title: Commission Decision of 20/10/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10443 - ALLIANZ CAPITAL / AIMCO / DALMORE / GENERATION / PORTERBROOK) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                               Brussels, 20.10.2021
                                                               C(2021) 7658 final
                                                                               PUBLIC VERSION
                                                               Allianz Infrastructure Luxembourg I
                                                               S.à r.l
                                                               Seidlstraße 24
                                                               80335 – Munich
                                                               Germany
                                                               Alberta Investment Management
                                                               Corporation
                                                               1600 10250 101 Street
                                                               Edmonton, Alberta
                                                               Canada
                                                               Dalmore Capital Limited
                                                               5th Floor, 33 Cannon Street
                                                               EC4M 5SB – London
                                                               United Kingdom
                                                               Generation Capital LTD
                                                               12th Abba Eban Boulevard,
                                                               Building D, Floor 12
                                                               Herzliya
                                                               Israel
Subject:        Case M.10443 – ALLIANZ CAPITAL / AIMCO / DALMORE /
                GENERATION / PORTERBROOK
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                (EC) No 139/20041 and Article 57 of the Agreement on the European
                Economic Area2
Dear Sir or Madam,
1.      On 22 September 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Allianz
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’).
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---    Infrastructure Luxembourg I S.à.r.l (“Allianz Infrastructure”, Luxembourg, ultimately
   advised by Allianz Capital Partners GmbH, “Allianz Capital”, Germany), Alberta
   Investment Management Corporation (“AIMCo”, Canada), Ulfstead Bidco Limited
   (controlled by funds managed by Dalmore Capital Limited, “Dalmore”, UK, and
   Generation Capital LTD, “Generation”, Israel) acquire within the meaning of Article
   3(1)(b) and 3(4) of the Merger Regulation joint control of Porterbrook Holdings I
   Limited (“Porterbrook”, UK). The concentration is accomplished by way of purchase
   of shares.3
2. The business activities of the undertakings concerned are:
       For Allianz Capital: Allianz Infrastructure is a wholly-owned subsidiary of
        Allianz SE, advised by Allianz Capital. Allianz Capital is the Allianz group’s in-
        house investment manager for alternative investments investing mainly the capital
        of Allianz insurance companies, focussing its investments on direct investments,
        renewable energy and indirect investments in private equity,
       For AIMCo: Canada’s largest and most diversified institutional investment fund
        managers, investing globally on behalf of its clients, various pension, endowment
        and government funds in the Province of Alberta, Canada,
       For Dalmore: independent fund management-company focusing on investments
        in lower risk opportunities for institutional investors in the UK infrastructure
        sector,
       For Generation: investments in the infrastructure and energy sectors,
       For Porterbrook: supply of all types of railway rolling stock and associated
        equipment to British passenger train-operating companies and freight companies.
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
3  Publication in the Official Journal of the European Union No C 398, 1.10.2021, p. 21-22.
4  OJ C 366, 14.12.2013, p. 5.
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