# C_2004162EN.01000201.xml

| 19.6.2004 | EN | Official Journal of the European Union | C 162/2 |
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19.6.2004

EN

Official Journal of the European Union

C 162/2

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Prior notification of a concentration

(Case No. COMP/M.3438 – Putnam / Union Investment / Union PanAgora JV)

Candidate case for simplified procedure

(2004/C 162/02)

(Text with EEA relevance)

| 1. | On 10.6.2004, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Putnam Investment LLC (‘Putnam’, USA) belonging to the Marsh & McLennan Group of Companies (USA), through the acquisition of control of the whole undertaking PanAgora Assets Management Inc (‘PanAgora’, USA), and Union Assets Management Holding AG (‘Union Investment’, Germany), controlled by DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (Germany), acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking Union PanAgora Assets Management GmbH (‘Union PanAgora’, Germany), by way of purchase of shares. |
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1.

On 10.6.2004, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Putnam Investment LLC (‘Putnam’, USA) belonging to the Marsh & McLennan Group of Companies (USA), through the acquisition of control of the whole undertaking PanAgora Assets Management Inc (‘PanAgora’, USA), and Union Assets Management Holding AG (‘Union Investment’, Germany), controlled by DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (Germany), acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking Union PanAgora Assets Management GmbH (‘Union PanAgora’, Germany), by way of purchase of shares.

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| 2. | The business activities of the undertakings concerned are:






  — | for Putnam: financial services, including assets management services. |
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2.

The business activities of the undertakings concerned are:

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for Putnam: financial services, including assets management services.

| — | for PanAgora: assets management services. |
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for PanAgora: assets management services.

| — | for Union Investment: assets management services. |
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for Union Investment: assets management services.

| — | for Union PanAgora: assets management services. |
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—

for Union PanAgora: assets management services.

| 3. | On preliminary examination, the Commission finds that the notified concentration could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No4064/89 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice. |
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3.

On preliminary examination, the Commission finds that the notified concentration could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No4064/89 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

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| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (fax no. +32/2/2964301 or 2967244) or by post, under reference number COMP/M.3438 – Putnam / Union Investment / Union PanAgora JV, to the following address:





  European Commission |
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| Directorate-General for Competition, |
| Merger Registry |
| J-70 |
| B-1049 Bruxelles/Brussel |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (fax no. +32/2/2964301 or 2967244) or by post, under reference number COMP/M.3438 – Putnam / Union Investment / Union PanAgora JV, to the following address:

European Commission

Directorate-General for Competition,

Merger Registry

J-70

B-1049 Bruxelles/Brussel

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(1)  OJ L 24, 29.1.2004, p. 1

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(2)  OJ C 217, 29.7.2000, p. 32; Council Regulation (EEC) No 4064/89 has been replaced by Council Regulation (EC) No 139/2004.

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