CELEX: 32021M10136
Language: en
Date: 2021-02-17 00:00:00
Title: Commission Decision of 17/02/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10136 - PGGM / ARCUS / AMP / ALPHA TRAINS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                              Brussels, 17.2.2021
                                                              C(2021) 1169 final
                                                                                PUBLIC VERSION
                                                              PGGM Infrastructure Fund
                                                              Noordweg Noord 150
                                                              3704 JG – Zeist
                                                              Netherlands
                                                              Arcus European Investment Manager
                                                              LLP
                                                              6th floor 1 Aldermanbury Square
                                                              EC2V 7HR – London
                                                              United Kindgdom
                                                              AMP Capital Investors (UK) Limited
                                                              6th floor Berkeley Square House
                                                              Berkeley Square
                                                              W1J 6BZ – London
                                                              United Kindgdom
Subject:        Case M.10136 – PGGM / ARCUS / AMP / ALPHA TRAINS
                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 25 January 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Stichting
        Depositary PGGM Infrastructure Funds, part of the PGGM Group (“PGGM”,
        Netherlands), Arcus European Investment Manager LLP (“Arcus”, United Kingdom)
        and AMP Capital Investors (“UK”) Limited (“AMP”, United Kingdom) acquire
        within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control
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---    of Alpha Trains (Luxembourg) Holdings S.à.r.l. (“Alpha Trains”, Luxembourg) by
   way of purchase of shares.3
2. The business activities of the undertakings concerned are:
       for PGGM: pensions management for different pension funds, the affiliated
        employers and their employees;
       for Arcus: independent fund manager specialising in European infrastructure;
       for AMP: investment manager operating across a broad range of asset classes
        worldwide;
       for Alpha Trains: specialist train leasing company providing rolling stock to both
        public and private operators in a number of countries across continental Europe.
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(b) 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 32, 29.1.2021, p. 18.
4  OJ C 366, 14.12.2013, p. 5.
                                                       2