CELEX: 32022M10596
Language: en
Date: 2022-02-07 00:00:00
Title: Commission Decision of 07/02/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10596 - OTPP / KKR / GREENCOLLAR) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 7.2.2022
                                                                 C(2022) 835 final
                                                                                 PUBLIC VERSION
                                                                 Ontario Teachers’ Pension Plan Board
                                                                 5650 Yonge Street
                                                                 M2M 4H5 Toronto, Ontario
                                                                 Canada
                                                                 KKR & Co. Inc.
                                                                 30 Hudson Yards
                                                                 NY, 10001 New York
                                                                 United States of America
Subject:         Case M.10596 – OTPP / KKR / GREENCOLLAR
                 Commission decision pursuant to Article 6(1)(b) of Council Regulation
                 (EC) No 139/20041 and Article 57 of the Agreement on the European
                 Economic Area2
Dear Sir or Madam,
1.      On 14 January 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Ontario
        Teachers’ Pension Plan Board (“OTPP”, Canada) and KKR & Co. Inc. (together with
        its affiliates, “KKR”, United States) acquire within the meaning of Article 3(1)(b) and
        Article 3(4) of the Merger Regulation joint control over the whole of Green Climate
        Co Pty Ltd (“GreenCollar”, Australia) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             OTPP is a corporation without share capital incorporated under the Teachers’
              Pension Act (Ontario). OTPP is concerned with the administration of pension
              benefits and the investment of pension plan assets on behalf of approximately
              331000 active and retired teachers in the Canadian province of Ontario,
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 38I, 25.1.2022, p. 3-4.
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---        KKR is a global investment firm that offers alternative asset management and
        capital markets and insurance solutions,
       GreenCollar is an environmental platform and project developer in Australia
        (specialising in nature based projects).
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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