CELEX: 32016M8173
Language: en
Date: 2016-09-08 00:00:00
Title: Commission Decision of 08/09/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.8173 - CPPIB / OTPP / IDEAL / ARCO NORTE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 08/09/2016
                                        C(2016) 5834 final

                                        [pic]

                                        To the notifying parties :

Dear Sirs,

Subject:    Case M.8173 - CPPIB / OTPP / IDEAL / ARCO NORTE
         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 16 August 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation
    by which the undertakings Canada Pension Plan Investment Board (CPPIB, Canada), Ontario Teachers' Pension  Plan  Board  (OTPP,  Canada)  and
    Impulsora del Desarrollo y el Empleao en América Latina, S.A.B. de C.V. (IDEAL, Mexico) acquire within the meaning of Article 3(1)(b) of the
    Merger Regulation joint control of the undertaking Autopista Arco Norte, S.A. de C.V. (Arco  Norte,  Mexico),  by  way  of  subscription  of
    shares. Currently, Arco Norte is solely controlled by IDEAL.[3]

 2. The business activities of the undertakings concerned are:

      – for CPPIB: investment management organisation that invests the funds of the Canada Pension Plan, principally in public equities,  private
        equities, real estate, infrastructure and fixed income investments;

      – for OTPP: investment management organisation that invests the pension plan assets on  behalf  of  active  and  retired  teachers  in  the
        Canadian province of Ontario;

      – for IDEAL: public company that manages a strategic asset portfolio across various infrastructure sectors which foster social  development
        and economic growth through designing, developing, financing and managing different infrastructure projects in Mexico and in  Panama,  as
        well as holding the long term management, provision of services, maintenance and operation of the concessions and projects it has a stake
        in;

      – for Arco Norte: holder of a concession for the  exploitation,  operation  and  maintenance  of  a  toll  road  in  Mexico  known  as  the
        ‘Libramiento Norte de la Ciudad de México’.

 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) and 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)
                                        Johannes LAITENBERGER
                                        Director-General

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[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 306, 23.08.2016, p. 8.
[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE