CELEX: 32021M10393
Language: en
Date: 2021-09-03 00:00:00
Title: Commission Decision of 03/09/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10393 - BROOKFIELD / MODULAIRE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 3.9.2021
                                                                C(2021) 6609 final
                                                                                 PUBLIC VERSION
                                                                BCP V Modular Services Holdings IV
                                                                Limited
                                                                One Canada Square
                                                                Level 25 Canary Wharf
                                                                E14 5AA London
                                                                United Kingdom
Subject:        Case M.10393 – BROOKFIELD / MODULAIRE
                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 10 August 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which BCP V
        Modular Services Holdings IV Limited (‘Modular Holdings’, United Kingdom), an
        entity indirectly controlled by Brookfield Asset Management Inc. (‘Brookfield’,
        Canada) inteds to acquire within the meaning of Article 3(1)(b) of the Merger
        Regulation control of the whole of Modulaire Investments 2 S.A. R.L. (‘Modulaire’,
        Luxembourg).
        The concentration is accomplished by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     Modular Holdings: investment entity created for the purpose of the acquisition of
              Modulaire; Brookfield: global asset management with a focus on real estate,
              infrastructure, renewable power and private equity.
        −     Modulaire: infrastructure services and sale of modular buildings under the brand
              names Algeco in Europe and Scandinavia, as well as Elliott, Advanté and Carter
              in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and
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 333, 19.8.2021, p. 5.
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---         BUKO Bouwsystemen in the Netherlands, Ausco in Australia, Portacom in New
        Zealand and Algeco Chengdong in China.
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
4  OJ C 366, 14.12.2013, p. 5.
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