CELEX: 32018M9165
Language: en
Date: 2018-11-28 00:00:00
Title: Commission Decision of 28/11/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.9165 - Canada Pension Plan Investment Board / Ontario Teachers' Pension Plan Board / Impulsora del Desarrollo y El Empleo en America Latina, S.A.B. de C.V. / ConcesioAutopista Guadalajara-Tepic, S.A. de C.V.) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 28.11.2018
                                                                C(2018) 8130 final
                                                                       PUBLIC VERSION
                                                                To the notifying parties:
Subject:        Case M.9165 - CPPIB/OTPP/IDEAL/CAGT
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
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                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 5 November 2018, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Canada Pension
        Plan Investment Board ("CPPIB", Canada), Ontario Teachers' Pension Plan Board
        ("OTPP", Canada), and Promotora del Desarrollo de América Latina, S.A. de C.V.
        ("IDEAL", Mexico) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger
        Regulation joint control of the whole of Concesionaria Autopista Guadalajara-Tepic, S.A.
        de C.V. ("CAGT", Mexico), IDEAL's subsidiary which holds the concession for the
        development, maintenance, operation and exploitation of toll roads in Mexico known as
        the Tepic Bypass, the Guadalajara Bypass and Guadalajara-Tepic Toll Road, by way of
        purchase of shares.3
2.      The business activities of the undertakings concerned are:
          –        for CPPIB: investment management organisation that invests the funds of the
                   Canada Pension Plan, principally in public equities, private equities, real estate,
                   infrastructure and fixed income investments;
          –        for OTPP: investment management organisation that invests the pension plan
                   assets on behalf of active and retired teachers in the Canadian province of
                   Ontario;
          –        for IDEAL: public company that manages a strategic asset portfolio across
                   various infrastructure sectors which foster social development and economic
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 412, 14.11.2018, p. 35.
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---              growth through designing, developing, financing and managing different
             infrastructure projects in Mexico and in Panama, as well as holding the long term
             management, provision of services, maintenance and operation of the concessions
             and projects it has a stake in.
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 paragraphs
   5(a) and 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)
                                                   Johannes LAITENBERGER
                                                   Director-General
4  OJ C 366, 14.12.2013, p. 5.
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