The European Commission has approved plans for British Columbia Investment Management Corporation, APG Asset Management and BTG Pactual Timberland Investment Group to take joint control of timberland assets in Chile, known as Hancock Assets.
The assets are currently part of Hancock Chilean Plantations SpA in Chile, the Commission informed on Wednesday.
The deal falls under the EU Merger Regulation, which requires Brussels to review certain mergers and acquisitions that meet turnover thresholds, the Commission said.
It concluded the transaction would not raise competition concerns because it would have a limited impact on the European Economic Area — the EU plus Iceland, Liechtenstein and Norway.
Case examined under simplified procedure
The notified transaction was reviewed under the Commission’s simplified merger review procedure.
The case is listed in the Commission’s public register under the reference M.12578.
