CELEX: 32021M10109
Language: en
Date: 2021-02-17 00:00:00
Title: Commission Decision of 17/02/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10109 - CINVEN / BCI / COMPRE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
      DG Competition
       Case M.10109 - CINVEN / BCI / COMPRE
                         Only the English text is available and authentic.
                     REGULATION (EC) No 139/2004
                              MERGER PROCEDURE
                     Article 6(1)(b) NON-OPPOSITION
                                              Date: 17/02/2021
In electronic form on the EUR-Lex website under
                      document number 32021M10109
 ---pagebreak---                                 EUROPEAN COMMISSION
                                                                 Brussels, 17.2.2021
                                                                 C(2021) 1168 final
                                                                                 PUBLIC VERSION
                                                                 Cinven Capital Management (SFF)
                                                                 General Partner Limited
                                                                 Level Four, Mill Court, La Charroterie
                                                                 GY1 1EJ - St Peter Port
                                                                 Guernsey
                                                                 British Columbia Investment
                                                                 Management Corporation
                                                                 750 Pandora Avenue
                                                                 V8W 0E4 - Victoria, BC
                                                                 Canada
Subject:        Case M.10109 - CINVEN / BCI / COMPRE
                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 22 January 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Cinven Capital
        Management (SFF) General Partner Limited (“Cinven SFF”, Guernsey) and the
        British Columbia Investment Management Corporation (“BCI”, Canada) acquire
        within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control
        of Cambridge Topco Limited and Cambridge Holdco Limited (together “Compre”,
        Malta). The concentration is accomplished by way of purchase of shares.3
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 32, 29.01.2021, p. 15.
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--- 2. The business activities of the undertakings concerned are:
        for Cinven SFF: a private equity business engaged in the provision of
           investment management and investment advisory services to a number of
           investment funds. Cinven controls a number of portfolio companies which are
           active in a variety of sectors across a range of jurisdictions,
        for BCI: an investment manager for British Columbia public sector clients in
           fixed income, public equities, private equity, infrastructure, renewable
           resources, real estate and commercial mortgages,
        for Compre: an insurance and reinsurance company specialising in the
           consolidation of discontinued, “closed” non-life insurance portfolios from
           other non-life insurance companies.
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)
                                                     Olivier GUERSENT
                                                     Director-General
4  OJ C 366, 14.12.2013, p. 5.
                                                 2