Brussels, 9 August 2024
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of AOA Top Tier II L.P. (‘AOA’) by Searchlight Capital Partners (‘SCP’), both of the US, and British Columbia Investment Management Corporation (‘BCI’) of Canada.
The transaction relates primarily to billboard advertising and outdoor advertising displays.
The Commission concluded that the notified transaction would not raise competition concerns, given the limited impact on the European Economic Area and that the companies are not active in the same or vertically related markets. The notified 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.11642.