Prior notification of a concentration (Case M.10927 – ACTION LOGEMENT / AG2R LA MONDIALE / BNP PARIBAS / JV) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 433/22
Date: 2022-11-15
Institutions: Directorate-General for Competition, European Commission
Subjects: France, economic concentration, housing, joint venture, merger control, ownership, provision of services, real estate business, subsidiary








C_2022433EN.01005801.xml










15.11.2022   


EN


Official Journal of the European Union


C 433/58






Prior notification of a concentration
(Case M.10927 – ACTION LOGEMENT / AG2R LA MONDIALE / BNP PARIBAS / JV)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 433/22)

1.   
On 7 November 2022, 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:






—


In’li (France), controlled by the Action Logement (France) group,










—


AGLM Immo (France), controlled by the AG2R La Mondiale (France) group,










—


Pierre Impact (France), controlled by BNP Paribas (France),










—


JV (‘Target’, France).




In’li, AGLM Immo and Pierre Impact will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Target, a fully-fledged joint venture.
The concentration is accomplished by way of purchase of shares in a newly created company constituting a joint venture.


2.   
The business activities of the undertakings concerned:






—


In’li: a real estate company, subsidiary of the Action Logement group, active in France in the social and intermediate housing sector,










—


AGLM Immo: a subsidiary of the AG2R La Mondiale group, incorporated to facilitate the ownership of all the real estate assets of all the companies in AG2R La Mondiale, which is an insurance group active in France and Luxembourg, specialising in personal insurance (pensions, health, life provident, savings, social welfare),










—


Pierre Impact: a management company offering various multi-product real-estate services in France and in several EEA countries,










—


Target: a fully-fledged joint venture that will carry out real estate activities in France in the residential sector.






3.   
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 procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2), it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


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. The following reference should always be specified:
M.10927 – ACTION LOGEMENT / AG2R LA MONDIALE / BNP PARIBAS / JV
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Fax +32 229-64301
Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.