CELEX: 32021M10532
Language: en
Date: 2021-12-02 00:00:00
Title: Commission Decision of 02/12/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10532 - GIP / IFM / SYDNEY AIRPORT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 2.12.2021
                                                                C(2021) 8900 final
                                                                                 PUBLIC VERSION
                                                                IFM Investors Pty Ltd
                                                                Level 29 Casselden
                                                                2 Lonsdale Street
                                                                VIC 3000 Melbourne
                                                                Australia
                                                                Global Infrastructure Management,
                                                                LLC
                                                                1345 Avenue of the Americas
                                                                New York, NY 10105
                                                                United States
Subject:        Case M.10532 - GIP / IFM / SYDNEY AIRPORT
                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 9 November 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which IFM Investors
        Pty Ltd (“IFM”, Australia) and Global Infrastructure Management, LLC (“GIP”,
        Unites States), acquire within the meaning of Article 3(1)(b) of the Merger Regulation
        joint control of the whole of Sydney Airport Limited and Sydney Airport Trust 1
        (“Sydney Airport”, Australia) by way of public bid announced on
        13 September 2021.3
2.      The business activities of the undertakings concerned are:
        −     for IFM: an investor-owned global investment manager that represents around
              30 million pension fund members and manages assets across infrastructure, listed
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 466, 18.11.2021, p.18.
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---         equities, private capital and debt investments. It has offices in Australasia, the
        United States and Europe,
   −    for GIP: an independent infrastructure investor focusing on the transport, energy,
        waste and water sectors. GIP has investments in Europe, the Americas, Asia, the
        Middle East and Australasia,
   −    for Sydney Airport: owns a domestic and international airport based in Sydney,
        Australia and is listed on the Australian Securities Exchange. It has three
        passenger terminals and seven cargo terminals, and is active in providing
        aeronautical, retail, property, and car rental services.
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.
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