CELEX: 32022M10604
Language: en
Date: 2022-02-15 00:00:00
Title: Commission Decision of 15/02/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10604 - OXFORD PROPERTIES / PINEBRIDGE BENSON ELLIOT / SIGMA) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 15.2.2022
                                                                 C(2022) 1046 final
                                                                                 PUBLIC VERSION
                                                                 Oxford Properties Group
                                                                 122 Leadenhall Street
                                                                 EC3V 4AB, London
                                                                 United Kingdom
                                                                 Pinebridge Benson Elliot LLP
                                                                 1 Bedford Avenue
                                                                 WC1B 3AU, London
                                                                 United Kingdom
Subject:        Case M.10604 – OXFORD PROPERTIES / PINEBRIDGE BENSON
                ELLIOT / SIGMA
                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 21 January 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Oxford Six Limited, part of the Oxford Properties Group (‘Oxford
        Properties’, Canada) and PineBridge Benson Elliot LLP (‘PBBE’, United Kingdom)
        acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control
        over the whole of the undertaking Sigma Capital Group Limited (‘Sigma’, United
        Kingdom) by way of contract or any other means.3
2.      The business activities of the undertakings concerned are:
         for Oxford Properties: the ownership, development and management of real estate
          assets. Oxford Properties is the real estate arm of OMERS Administration
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 54, 1.2.2022, p. 8.
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---        Corporation, the administrator of the Ontario Municipal Employees Retirement
       System Primary Pension Plan and trustee of the pension funds,
      for PBBE: a fund manager. PBBE is solely controlled by PineBridge Investments,
       L.P., (‘PineBridge’), a private, asset manager,
      for Sigma: a UK-based residential development and urban regeneration specialist.
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)
                                                       Olivier GUERSENT
                                                       Director-General
4    OJ C 366, 14.12.2013, p. 5.
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