Prior Notification of Concentration: Macquarie Group / La Caisse / Maple (Case M.12368)

EUR-Lex Official Journal C-series

Published March 30th, 2026

Detected March 30th, 2026

Summary

The European Commission has published a prior notification of a concentration (Case M.12368) involving Macquarie Group, La Caisse, and Maple. This case is a candidate for a simplified procedure, indicating a potentially straightforward review of the merger.

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What changed

The European Commission has issued a notice regarding the prior notification of a concentration, Case M.12368, involving Macquarie Group, La Caisse, and Maple. This notification signifies the formal commencement of the review process for this merger. The case has been identified as a candidate for a simplified procedure, which suggests that the Commission anticipates a relatively straightforward assessment based on preliminary review.

Companies involved in this concentration, Macquarie Group, La Caisse, and Maple, should be aware that this is a formal notification. While the simplified procedure may expedite the review, they must still comply with any information requests from the Commission. Compliance officers should monitor the progress of Case M.12368, particularly any updates regarding the simplified procedure's application, to understand the timeline and any potential conditions or remedies that may be imposed.

What to do next

Monitor Case M.12368 for updates on the simplified procedure application.
Ensure all required documentation and information are readily available for potential Commission requests.

Source document (simplified)

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Prior notification of a concentration (Case M.12368 – MACQUARIE GROUP / LA CAISSE / MAPLE) – Candidate case for simplified procedure

PUB/2026/343

OJ C, C/2026/1946, 30.3.2026, ELI: http://data.europa.eu/eli/C/2026/1946/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/2026/1946/oj

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| | Official Journal
of the European Union | EN

C series |

| | C/2026/1946 | 30.3.2026 |
Prior notification of a concentration

(Case M.12368 – MACQUARIE GROUP / LA CAISSE / MAPLE)

Candidate case for simplified procedure

(Text with EEA relevance)

(C/2026/1946)

On 20 March 2026, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1). This notification concerns the following undertakings:

| — | MAIF 4 Investments India 2 Pte. Ltd. (‘MAIF 4’, Singapore), ultimately controlled by Macquarie Group Limited (‘Macquarie Group’, Australia), |

| — | CDPQ Asia III (‘CDPQ Asia’, Canada), ultimately controlled by Caisse de dépôt et de placement du Québec (‘La Caisse’, Canada), |

| — | Maple Infrastructure Trust, Maple Infra InvIT Investment Manager Private Limited, and Maple Highway Project Management Private Limited (together ‘Maple’, India), controlled by La Caisse. |
Macquarie Group and La Caisse will acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control of Maple.

The concentration is accomplished by way of purchase of shares and of securities.

The business activities of the undertakings concerned are the following:
| — | MAIF4 has no operations, assets or revenue. Macquarie Group is a diversified financial services group, |

| — | CDPQ Asia III is focused on investments in Asia. La Caisse is a long-term institutional investor. |
3.

The business activities of the undertaking Maple are the following: owning and operating road concessions in India through special purpose vehicles. Maple does not have any activities in the EEA.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

The Commission invites interested third parties to submit their possible observations on the proposed concentration to the Commission. Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.12368 – MACQUARIE GROUP / LA CAISSE / MAPLE

Observations can be sent to the Commission by email or by post. Please use the contact details below:

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:

(2) OJ C 160, 5.5.2023, p. 1.

ELI: http://data.europa.eu/eli/C/2026/1946/oj

ISSN 1977-091X (electronic edition)

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