CELEX: 32021M10130
Language: en
Date: 2021-02-15 00:00:00
Title: Commission Decision of 15/02/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10130 - APG / ARCUS / PSP / ALPHA TRAINS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 15.02.2021
                                                                C(2021) 1100 final
                                                                                    PUBLIC VERSION
                                                                APG Asset Management N.V.
                                                                Gustav Mahlerplein 3
                                                                1082 MS – Amsterdam
                                                                Netherlands
                                                                Arcus European Investment Manager LLP
                                                                6th Floor, 1 Aldermanbury Square
                                                                EC2V 7HR – London
                                                                United Kingdom
                                                                Public Sector Pension Investment Board
                                                                10 Bressenden Place,
                                                                Verde SW1 Level 8
                                                                SW1E 5DH – London
                                                                United Kingdom
Subject:        Case M.10130 – APG / ARCUS / PSP / ALPHA TRAINS
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1
                No 139/2004 and Article 57 of the Agreement on the European Economic
                      2
                Area
Dear Sir or Madam,
1.      On 21 January 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which APG Asset
        Management N.V. (“APG”, Netherlands), Arcus European Investment Manager LLP
        (“Arcus”, United Kingdom) and Public Sector Pension Investment Board (“PSP”,
        Canada) acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger
        Regulation joint control of Alpha Trains (Luxembourg) Holdings S.à.r.l. (“Alpha
        Trains”, Luxembourg) by way of purchase of shares. 3
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 32, 29.1.2021, p. 13.
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--- 2. The business activities of the undertakings concerned are:
   −    for APG: asset manager with global investments on behalf of Dutch pension funds;
   −    for Arcus: independent fund manager specialising in European infrastructure;
   −    for PSP: pension investment manager with a diversified global portfolio;
   −    for Alpha Trains: specialist train leasing company providing rolling stock to both
        public and private operators in a number of countries across continental Europe.
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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