Commission Decision of 04/08/2006 declaring a concentration to be compatible with the common market (Case No IV/M.4313 - GOLDMAN SACHS / BOREALIS / GICSI / ASSOCIATED BRITISH PORTS (II)) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) Brussels, 04.08.2006 SG-Greffe(2006) D/204465 To the notifying parties Dear Sirs, Subject: Case No. COMP/M.4313 – Goldman Sachs/Borealis/GICSI/Associated British Ports Holdings (II) Notification of 06.07.2006 pursuant to Article 4 of Council Regulation (EC) No. 139/2004 [1] Publication in the Official Journal of the European Union No.
C163, 14.07.2006, p.6 1. On 06.07.2006, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which Goldman Sachs Group Inc. (“Goldman Sachs” USA), Borealis Infrastructure Management Inc. (“Borealis” Canada), and GIC Special Investments Pte Ltd (“GIC” Singapore) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the whole of Associated British Ports Holdings PLC (“AIB”, UK), via purchase of shares. 2. The business activities of the undertakings concerned are : - The Goldman Sachs Group, Inc. is a global investment banking, securities and investment management firm that provides a wide range of banking, securities and investment services worldwide. - Borealis Infrastructure Management Inc. is one of the largest infrastructure investors in the world (which is in turn owned by Ontario Municipal Employees Retirement System, one of Canada’s largest pension funds). - Associated British Ports Holdings PLC is a UK company, constituted under the Transport Act 1981.
Its principal business activities are in UK port operations and provision of related services, including stevedoring activities, to ship and cargo owners and other port users. - GICSI, a private equity arm of the GIC Group and manages investments in private equity, venture capital and infrastructure funds, as well as direct investments in private companies. The GIC Group is wholly owned by the Minister For Finance Incorporated (MFFI), a body corporate representing Singapore’s Minister for the time being charged with the responsibility for finance. 3. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No.
139/2004 and of paragraph 5, subparagraph c, of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No. 139/2004 [2]. 4. For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EC) No. 139/2004. For the Commission Philip LOWE Director General [1] OJ L 24, 29.1.2004 p. 1 [2] OJ C 56, 05.3.2005 p.32 --------------------------------------------------