CELEX: 32020M9719
Language: en
Date: 2020-02-25 00:00:00
Title: Commission Decision of 25/02/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9719 - FFHL / OMERS / RIVERSTONE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 25.02.2020
                                                                C(2020) 1199 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9719 - FFHL / OMERS / RIVERSTONE
                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 30 January 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Fairfax Financial Holdings Limited (“FFHL”, Canada), on the one hand,
        and Kingston Infrastructure Holdings Inc. (“Kingston”, Canada), controlled by
        OMERS Administration Corporation (“OMERS”, Canada), on the other hand, acquire
        within the meaning of Article 3(1)(b) and Article 3(4) of the Merger Regulation joint
        control of the whole of Riverstone Barbados Limited (“Riverstone”, Barbados),
        currently solely controlled by FFHL. The concentration is accomplished by way of
        purchase of shares.3
2.      The business activities of the undertakings concerned are:
              FFHL is a holding company engaged in property and casualty insurance and
                 reinsurance and associated investment management,
              OMERS is the administrator of the Ontario Municipal Employees Retirement
                 System Primary Pension Plan and trustee of the pension funds. It manages a
                 diversified global portfolio of stocks and bonds as well as real estate, private
                 equity and infrastructure investments,
              Riverstone carries out the management of run-off insurance businesses and
                 portfolios.
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 40, 06.02.2020, p. 37.
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--- 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(c) 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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