CELEX: 32013M7069
Language: en
Date: 2013-11-11 00:00:00
Title: Commission Decision of 11/11/2013 declaring a concentration to be compatible with the common market (Case No COMP/M.7069 - ARES / OTPP / CPG) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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                                        Brussels, 11.11.2013
                                        C(2013) 7903 final

                                        |To the notifying parties:                                          |                                                                   |

Dear Madam(s) and/or Sir(s),

Subject:    Case No COMP/M.7069-ARES/ OTPP/ CPG
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

   1. On 11.10.2013 the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation   by
      which Ontario Teachers’ Pension Plan ("OTPP", Canada) and Ares Management LLC ("Ares", USA) acquire within the meaning of  Article  3(1)(b)
      of the Merger Regulation joint control of CPG International LLC, ("CPG", USA), by way of amendments of the Articles of Association.

   2. The business activities of the undertakings concerned are:

      -     OTPP: administrates pension benefits and investments in pension plan assets on behalf of active and retired teachers in the  Province
           of Ontario;

      -     Ares: an alternative asset manager active in the USA, Europe, Asia and Australia;

      -     CPG: active in various fields in the USA, Canada and EEA through the four principal brands it operates:  AZEK,  TimberTech,  Scranton
           Products and Vycom. CPG manufactures and sells building material for residential and commercial use, PVC based products  (PVC  decks,
           PVC porches, mouldings, trim and composite railing), interior privacy and storage solutions (cubicles, bathroom  partitions,  benches
           and lockers), and extruded PVC and olefin sheet products.

 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[2].

 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.

                                        For the Commission
                                        (signed)
                                        Alexander ITALIANER
                                        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 C 56, 5.3.2005, p. 32.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE