CELEX: 32015M7536
Language: en
Date: 2015-03-31 00:00:00
Title: Commission Decision of 31/03/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7536 - ALLIANZ / AIMCO / UTA / PORTERBROOK) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 31.3.2015
                                        C(2015) 2342 final

                                        [pic]

                                        |To the notifying parties:                                              |                                                                       |

Dear Madam(s) and/or Sir(s),

Subject:    Case M.7536 - ALLIANZ/ AIMCO/ UTA/ PORTERBROOK
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 5 March 2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by
    which Allianz SE; Alberta Investment Management Corporation (AIMCo) and Utilities Trust of Australia (UTA) acquire  within  the  meaning  of
    Article 3(1)(b) of the Merger Regulation indirect joint control in Porterbrook, by way of conversion of shares.

 2. The business activities of the undertakings concerned are:

            -          The Allianz group offers a comprehensive range of insurance and asset management products and  services  to  both  private
           and corporate customers in more than 70 countries, with the largest of its operations in Europe;

      -     AIMCo is one of Canada's largest and most diversified institutional investment fund managers, investing globally  on  behalf  of  its
           clients, various pension, endowment and government funds in the Province of Alberta;

      -         UTA invests globally and has a portfolio of assets in Australia, the United Kingdom, Europe  and  the  United  States.  Its  main
           investments are in energy, utilities and transport;

      -           The Porterbrook group specialises in the supply of all types of railway rolling  stock  and  associated  equipment  to  British
           passenger train operating companies and freight companies.

 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.[3]

 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)
                                        Alexander ITALIANER
                                        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 88, 14.3.2015, p. 7.

4     OJ C 366, 14.12.2013, p. 5.

-----------------------
                                                           SIMPLIFIED MERGER PROCEDURE

                                                                  PUBLIC VERSION