Mergers: Commission clears creation of a joint venture by CPP Investments and Votorantim
Daily News 11 / 04 / 2022
Source: European Commission Spokesperson's Service
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by CPP Investments of Canada and Votorantim of Brazil. The joint venture will invest in and develop new projects and opportunities in the renewable energy sector in Brazil. CPP Investments manages and invests the assets of the Canada Pension Plan Fund. Votorantim is active in a variety of business sectors, including cement and concrete, mining and metallurgy, concentrated orange juice, specialty chemicals, electric power generation and finance. The Commission concluded that the proposed acquisition would raise no competition concerns, because the joint venture has no actual or foreseen activities in the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.10583.