CELEX: 32021M10193
Language: en
Date: 2021-04-07 00:00:00
Title: Commission Decision of 07/04/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10193 - OTPP / IFM / ENWAVE ENERGY CANADA) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 07.04.2021
                                                                C(2021) 2516 final
                                                                                PUBLIC VERSION
                                                                Ontario Teachers’ Pension Plan Board
                                                                5650 Yonge Street
                                                                M2M 4H5 Toronto, Ontario
                                                                Canada
                                                                IFM Investors Pty Ltd
                                                                Level 29 Casselden
                                                                2 Lonsdale Street
                                                                VIC 3000 Melbourne
                                                                Australia
Subject:        Case M.10193 — OTPP/IFM/Enwave Energy Canada
                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 11 March 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Ontario Teachers’ Pension Plan (“OTPP”, Canada) and IFM Investors
        Pty Ltd. (“IFM”, Australia) acquire within the meaning of Article 3(1)(b) of the
        Merger Regulation joint control over the whole of The Canadian business of Enwave
        Energy Corporation (“Enwave Energy Canada”, Canada) by way of purchase of
        shares.3
2.      The business activities of the undertakings concerned are:
             for OTPP: the administration of pension benefits and the investment of pension
              plan assets of teachers in the Canadian province of Ontario,
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 C91, 18.03.2021, p. 35.
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 IFM: global investment management across infrastructure, listed equities,
        private capital and debt investments, on behalf of a number of Australian not-for-
        profit pension funds,
       for Enwave Energy Canada: providing district heating, cooling and generation
        services to customers located in Canada.
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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