CELEX: 32019M9348
Language: en
Date: 2019-05-13 00:00:00
Title: Commission Decision of 13/05/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9348 - OMERS Infrastructure / Morgan Stanley / VTG) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 13.5.2019
                                                                C(2019) 3732 final
                                                                                      PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9348 - OMERS INFRASTRUCTURE / MORGAN STANLEY / VTG
                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 11 April 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which OMERS
        Infrastructure European Holdings B.V. (“OMERS Infrastructure”, The Netherlands) and
        Morgan Stanley (“Morgan Stanley”, United States) acquire within the meaning of Article
        3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of VTG
        Aktiengesellschaft (“VTG”, Germany) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
                  for OMERS Infrastructure: the European investment platform for infrastructure
                   investments for OMERS Administration Corporation, Canada, which manages
                   a diversified global portfolio of stocks and bonds as well as real estate,
                   infrastructure and private equity investments for a Canadian pension plan,
                  for Morgan Stanley: a leading US global financial services firm providing a wide
                   range of investment banking, securities, wealth management and investment
                   management services,
                  for VTG: a wagon hire and rail logistics provider headquartered in Hamburg,
                   Germany, with an extensive fleet of vehicles, consisting mainly of tank wagons,
                   intermodal wagons, standard freight wagons, and sliding wall wagons. In addition
                   to leasing rail freight wagons, VTG provides multi-modal logistics services,
                   focusing on rail transport and global tank container transport.
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 142, 23.04.2019, 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(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
4  OJ C 366, 14.12.2013, p. 5.
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