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: 28/10/2016

In electronic form on the EUR-Lex website under document number 32016M8208

EUROPEAN COMMISSION

Brussels, 28.10.2016 C(2016) 7123 final

Public version

To the notifying parties

Dear Sirs,

1.On 6 October 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings Canada Pension Plan Investment Board ('CPPIB', Canada) and Glencore plc ('Glencore', Switzerland) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of Glencore Agriculture Limited ('Glencore Agri', Switzerland) by way of purchase of shares.

The business activities of the undertakings concerned are:

- for CPPIB: investment in public equities, private equities, real estate, infrastructure and fixed income instruments,

- for Glencore: supply and trading of a wide range of commodities and raw materials, including metals, minerals, oil and oil products, coal and agricultural products around the world. Its customers are commercial firms, active in the automotive, steel, power generation, oil and food processing sectors,

- for Glencore Agri: origination and marketing of agricultural products, including grains, oils/oilseeds, cotton, sugar and bio-diesel.

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

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').

3Publication in the Official Journal of the European Union No C 378, 14.10.2016, p. 23.

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.

4.the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

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) Johannes LAITENBERGER Director-General

4OJ C 366, 14.12.2013, p. 5.

2