CELEX: 32022M10707
Language: en
Date: 2022-04-29 00:00:00
Title: Commission Decision of 29/04/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10707 - MACQUARIE / BCI / REDEN HOLDING AND REDEN HOLDING 2020) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 29.4.2022
                                                                 C(2022) 2986 final
                                                                                 PUBLIC VERSION
                                                                 Macquarie Asset Management
                                                                 28 Ropemaker Street
                                                                 London, EC2Y 9HD
                                                                 United Kingdom
                                                                 British Columbia Investment Management
                                                                 Corporation
                                                                 750 Pandora Avenue
                                                                 Victoria BC, V8W 0E4
                                                                 Canada
Subject:        Case M.10707 – MACQUARIE / BCI / REDEN HOLDING AND REDEN
                HOLDING 2020
                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 4 April 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Macquarie
        Green Investment Group Renewable Energy Fund 2 and Macquarie Global
        Infrastructure Fund, ultimately controlled by Macquarie Group Limited (Macquarie,
        UK), and British Columbia Investment Management Corporation (BCI, Canada), will
        acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control
        over Reden Holding and Reden Holding 2020 (Target, France) 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 160, 13.4.2022, p. 106.
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 the following:
       Macquarie is a global investment bank and financial services provider covering
        resources and commodities, green energy, conventional energy, financial
        institutions, infrastructure and real estate,
       BCI is an agent of the Government of British Columbia in Canada, which invests
        on behalf of public sector clients in British Columbia and helps finance the
        retirement benefits of approx. 690,000 plan members, as well as insurance and
        benefit funds that cover 2.5 million workers in British Columbia,
       The Target develops, finances, builds and operates solar photovoltaic power
        plants in Europe, in particular, in France, Greece, Italy, Portugal and Spain, and in
        Latin America.
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.
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