EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 16/03/2021

In electronic form on the EUR-Lex website under document number 32021M10183

EUROPEAN COMMISSION

Brussels, 16.03.2021 C(2021) 1896 final

PUBLIC VERSION

AustralianSuper Pty Ltd Level 33, 50 Lonsdale Street VIC 3000 – Melbourne Australia

Canada Pension Plan Investment Board One Queen Street East Suite 2500 M5C 2W5 – Toronto, ON Canada

Transurban International Ltd. Level 31, Tower Five, Collins Square 727 Collins Street Docklands Victoria 3008 Australia

Dear Sir or Madam,

1.1. On 22 February 2021, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which AustralianSuper Pty Ltd as trustee of AustralianSuper (“AustralianSuper”, Australia), Canada Pension Plan Investment Board (“CPPIB”, Canada) and Transurban International Ltd (“Transurban”, Australia) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the whole of Transurban

1OJ 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.

2OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

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.

Chesapeake LLC (“Transurban Chesapeake”, USA), controlled by Transurban, by way of purchase of shares.

2. The business activities of the undertakings concerned are:

- for AustralianSuper: Australia’s largest industry superannuation and pension fund. Headquartered in Melbourne, it has primarily invested in Australia but has in recent years expanded its global investment activities,

- for CPPIB: an investment management organization that invests the funds transferred to it by the Canada Pension Plan. CPPIB principally invests in public equities, private equities, real estate, infrastructure and fixed income investments at global level,

- for Transurban: a toll road operator company that manages and develops urban toll road networks in Australia, Canada and the United States. It is listed on the Australian Securities Exchange,

- for Transurban Chesapeake: company engaged in the development, maintenance, operation and marketing of toll roads in the greater Washington, D.C., area of the USA.

3.3. 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(a) 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

3Publication in the Official Journal of the European Union No C 71, 1.3.2021, p. 64.

4OJ C 366, 14.12.2013, p. 5.

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