CELEX: 32020M9745
Language: en
Date: 2020-03-13 00:00:00
Title: Commission Decision of 13/03/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9745 - SUNSUPER / MACQUARIE / PGGM / MAGL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 13.03.2020
                                                                C(2020) 1714 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9745 – SUNSUPER / MACQUARIE / PGGM / MAGL
                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 20 February 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Sunsuper Pty Ltd, in its capacity as trustee of Sunsuper Superannuation
        Fund (‘Sunsuper’, Australia), Stichting Depositary PGGM Infrastructure Funds,
        belonging to the PGGM Group (‘PGGM’, The Netherlands) and Macquarie
        Transportation Finance Limited, belonging to Macquarie Group (‘Macquarie’,
        Australia), acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger
        Regulation joint control over the whole of the undertaking Macquarie AirFinance
        Group Limited (‘MAGL’, UK), currently jointly controlled by Macquarie and PGGM,
        by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Sunsuper: pension fund active in the operation of organisational pension
              programmes in Australia.,
             for PGGM: manages pensions for different pension funds, the affiliated
              employers and their employees on a global level,
             for Macquarie: a diversified financial group that provides asset management and
              finance, banking, advisory and risk and capital solutions on a global level,
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 64, 27.02.2020, p. 39.
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---        for MAGL: active in aircraft leasing on a global level with a diverse customer
        base, leasing aircraft to more than 80 airlines in approximately 50 different
        countries worldwide.
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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