BCI / Brookfield / NBIM / Mustang AIV JV Merger - Non-Opposition Decision
Summary
On 20 April 2026, the European Commission issued a decision not to oppose the notified concentration involving BCI, Brookfield, NBIM, and Mustang AIV JV (Case M.12346), declaring the joint venture compatible with the internal market under Article 6(1)(b) of the EC Merger Regulation. The full decision text will be made publicly available after removal of any business secrets, accessible via the Competition policy website and EUR-Lex. This represents an unconditional merger clearance with no remedies, conditions, or ongoing obligations imposed on the parties.
“On 20 April 2026, the Commission decided not to oppose the above notified concentration and to declare it compatible with the internal market.”
About this source
EUR-Lex is the EU's official legal database. The Official Journal series C carries information and notices that do not constitute binding law: Court of Justice case summaries, state aid notifications, public-sector tender announcements, sanctions implementation notices, EU institution operational news, and consultation calls. Around 165 entries a month. While series L holds the binding rules, series C is where the EU signals what is coming next: which sanctions are about to land, which cases are pending at the CJEU, which programs are tendering for support. Watch this if you advise on EU policy, monitor sanctions implementation, or compete for EU public-sector work. Recent: Russia sanctions notifications, EFTA state aid recovery interest rates, a Norwegian air services PSO tender.
What changed
The Commission issued a final decision under Article 6(1)(b) of Council Regulation (EC) No 139/2004 (the EC Merger Regulation), deciding not to oppose the notified concentration and declaring it compatible with the internal market. The decision concludes the Phase I merger review process with an unconditional clearance. The parties may proceed with completing the transaction without further regulatory intervention from the Commission on competition grounds.
For the merging entities (BCI, Brookfield, NBIM, and the Mustang AIV vehicle), the clearance removes antitrust uncertainty and allows transaction closing to proceed. No behavioral or structural remedies were imposed. Other market participants in the sectors affected by this JV should note that the Commission found no competition concerns warranting further investigation or conditions.
Archived snapshot
Apr 27, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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Non-opposition to a notified concentration (Case M.12346 – BCI / BROOKFIELD / NBIM / MUSTANG AIV JV)
C/2026/2692
OJ C, C/2026/2452, 27.4.2026, ELI: http://data.europa.eu/eli/C/2026/2452/oj (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
ELI: http://data.europa.eu/eli/C/2026/2452/oj
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| | Official Journal
of the European Union | EN
C series |
| | C/2026/2452 | 27.4.2026 |
Non-opposition to a notified concentration
(Case M.12346 – BCI / BROOKFIELD / NBIM / MUSTANG AIV JV)
(Text with EEA relevance)
(C/2026/2452)
On 20 April 2026, the Commission decided not to oppose the above notified concentration and to declare it compatible with the internal market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (the EC Merger Regulation) (1). The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:
| — | in the merger section of the ‘Competition policy’ website of the Commission (https://competition-cases.ec.europa.eu/search). This website provides various facilities to help locate individual merger decisions, including company name, case number, date and sectoral indexes, |
| — | in electronic form on the EUR-Lex website (http://eur-lex.europa.eu/homepage.html?locale=en) under document number 32026M12346. EUR-Lex is the online point of access to European Union law. |
(1) OJ L 24, 29.1.2004, p. 1, ELI: http://data.europa.eu/eli/reg/2004/139/oj.
ELI: http://data.europa.eu/eli/C/2026/2452/oj
ISSN 1977-091X (electronic edition)
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