CELEX: 32018M9222
Language: en
Date: 2018-12-18 00:00:00
Title: Commission Decision of 18/12/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.9222 - Ivanhoe / Oxford Properties Group) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 18.12.2018
                                                                C(2018) 9119 final
                                                                    PUBLIC VERSION
                                                                To the notifying parties:
Subject:        Case M.9222 - Ivanhoé/Oxford/JV
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                             2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 23 November 2018, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Ivanhoé Cambridge
        (‘Ivanhoé’, Canada) and Oxford Properties (‘Oxford’, Canada) will acquire joint control
        within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation over IDI Logistics
        (USA), a subsdiariy of Ivanhoé active in the United States of America investing in and
        developing industrial logistics real estate assets. The concentration is accomplished by way
        of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        -    for Ivanhoé: a global real estate investor and a subsidiary of the Canadian pension
             manager Caisse de dépôt et placement du Québec, who holds around 93 % of the
             ordinary share capital and exercises sole control over Ivanhoé.
        -    for Oxford: part of the wider OMERS Group (as defined below). OMERS
             Administration Corporation (‘OMERS’) is the administrator of the Ontario Municipal
             Employees Retirement System Primary Pension Plan and trustee of the pension funds.
             OMERS manages a diversified global portfolio of stocks and bonds as well as real
             estate, private equity and infrastructure investments (together, the ‘OMERS Group’).
             OMERS's principal investment managers are Borealis Infrastructure, OMERS Private
             Equity, OMERS Strategic Investments and Oxford Properties.
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 432, 30.11.2018, p. 24.
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--- 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)
                                                    Johannes LAITENBERGER
                                                    Director-General
4  OJ C 366, 14.12.2013, p. 5.
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