CELEX: 32019M9634
Language: en
Date: 2019-12-17 00:00:00
Title: Commission Decision of 17/12/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9634 - PSP / AVIVA / GALLERI K) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 17.12.2019
                                                                C(2019) 9371 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9634 – PSP / AVIVA / GALLERI K
                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 21 November 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings PSP Investments Holding Europe Ltd, a wholly owned subsidiary of
        Public Sector Pension Investment Board (“PSP”, Canada) and Aviva Investors
        Perpetual Capital SCSp SICAV-RAIF, belonging to Aviva Plc Group (“Aviva”, UK)
        acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control
        over the whole of the undertaking Galleri K Retail ApS (“Galleri K”, Denmark) by
        way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
          for PSP: the pension investment manager of several Canadian pension plans,
              including the pension plan of the Canadian Federal Public Service and the
              Canadian Forces. PSP manages a diversified global fixed-securities portfolio as
              well as investments in private equity, real estate, infrastructure, natural resources
              and private debt,
        for Aviva: a UK incorporated company operating in the insurance sector that is
            listed on the London Stock Exchange. Aviva’s group provides a broad range of
            insurance, savings and investment products and is principally active in the UK,
            France and Canada,
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 403, 29.11.2019, p. 69.
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 Galleri K: a Denmark-based company which owns retail, restaurant and office
       space in Copenhagen.
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(c) 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)
                                                   Cecilio MADERO VILLAREJO
                                                   Acting Director-General
4   OJ C 366, 14.12.2013, p. 5.
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