CELEX: 32017M8554
Language: en
Date: 2017-09-18 00:00:00
Title: Commission Decision of 18/09/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8554 - CIC / LOGICOR BUSINESS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                     
                  
               
               Brussels, 18.9.2017
            
            
               C(2017) 6398 final
            
            
                  
                     
                     
                     
                     
            
            
               To the notifying party:
            
            
               Subject:Case M.8554 - CIC / LOGICOR BUSINESS
                  Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004
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                and Article 57 of the Agreement on the European Economic Area
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               Dear Sir or Madam,
            
            
               1.On 16 August 2017, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking China Investment Corporation ("CIC", China) indirectly acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the companies and assets comprising the Logicor business ("Logicor", UK) by way of purchase of shares .
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               2.The business activities of the undertakings concerned are:
            
            
               -for CIC: China's sovereign wealth fund, which was established as vehicle to diversify China's foreign exchange holdings and seek maximum returns for its shareholder within acceptable risk tolerance. Via its wholly owned subsidiary CIC International Co., Ltd.,  CIC invests in and manages overseas assets including public market equity and bond investments, hedge funds and real estate investments private equity fund investments, co-investments and minority investments as financial investor.
            
            
               -for Logicor: it owns and operates logistics warehouse assets across the EU.
            
            
               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.
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               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
            
         
         
            
                  
                     (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 280, 24.08.2017, p. 3.
               
               
                  
                     (4)
                  
                  
                      
                           OJ C 366, 14.12.2013, p. 5.