Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  19.12.2018  
C(2018 ) 9170 final  
 
 
 
 
 
 
To the notifying parties  : 
 
 
Subject : Case M .9154  – DV4 / ABP / OMERS / QIA / REAL ESTATE JV   
Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) 
No 139/20041 and Article 57 of the Agreement on the European Economic Area2  
Dear Sir or Madam,  
1. On 26 November 2018, the Commission received notification of a proposed concentration  
pursuant to Article 4 of Council Regulation (EC) No 139/2004  by which  Oxford Jersey 
Holding Company Limited (‘Oxford’, Jersey), DV4 Limited (‘DV4’, British Virgin 
Islands), Stichting Depositary APG Strategic Real Estate Pool (‘APG’, the Netherlands) 
and Q atari Diar Real Estate Investment Company Q.P.S.C. (‘QDREIC’, Qatar) acquire 
within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control over 
an existing joint venture that owns, develops, manages and offers for rent residential real 
estate at the Middlewood Locks site in Manchester (United Kingdom). The concentration 
is accomplished by way of purchase of shares .3 
2. The business activities of the undertakings concerned are:  
- for DV4 : a real estate investment fund;  
- for APG : a depositary for an investment fund whose ultimate beneficial owner is 
Stichting Pensioenfonds ABP  (‘ABP ’), a pension administration organisation that 
specialises in the field of collective pensions in the public sector;  
- for Oxford : part of the wider OMERS A dministration Corporation (‘OMERS’) 
Group. OMERS is the administrator of the Ontario Municipal Employees Retirement 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the 'Merger Regulation '). With effect from 1 December 2009,  the Treaty on the 
Functioning of the European Union ( 'TFEU ') has introduc ed certain changes, such as the replacement of 
'Community ' by 'Union ' and 'common market ' by 'internal market '. The terminology of the TFEU will be used 
throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the 'EEA Agreement '). 
3  Publication in the Official Journal of the European Union No C 435, 03.12.2018 , p. 40. 
PUBLIC VERSION  
2 System Primary Pension Plan and trustee of the pension funds. OMERS manages a 
diversified global portfolio of stocks and bonds as well as re al estate, private equity and 
infrastructure investments;  
- for QDREIC : a real estate investment and development company,  a wholly owned 
entity of the Qatar Investment  Authority ( ‘QIA’) of the State of Qatar.  
3. After examination of the notification, the Europe an Commission has concluded that the 
notified operation falls within the scope of the Merger  Regulation  and of paragraph 5 (c) of 
the Commission Notice on a simplified procedure for treatment of certain concentrations 
under Council Regulation (EC) No 139/20 04.4 
4. For the reasons set out in the Notice on a simplified procedure, the European Commission 
has decided not to oppose the notified operation and to declare it compatible with the 
internal market and with the EEA Agreement. This decision is adopted in application of 
Article 6(1)(b) of the Merger  Regulation  and Article 57 of the EEA Agreement . 
For the Commission  
(Signed)  
Johannes LAITENBERGER  
Director -General  
 
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .