Prior notification of a concentration (Case M.11190 – CORAL REEF / MHI / EQUITY INMEUBLES) Candidate case for simplified procedure (Text with EEA relevance) 2023/C 273/05
Date: 2023-08-02
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, hotel industry, investment company, merger control, real property, subsidiary








C_2023273EN.01000601.xml










2.8.2023   


EN


Official Journal of the European Union


C 273/6






Prior notification of a concentration
(Case M.11190 – CORAL REEF / MHI / EQUITY INMEUBLES)
Candidate case for simplified procedure
(Text with EEA relevance)
(2023/C 273/05)

1.   
On 24 July 2023, 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:






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Coral Reef E 2023 S.A. (‘Coral Reef’, Spain), an indirect wholly owned subsidiary of the Abu Dhabi Investment Authority (‘ADIA’, United Arab Emirates),










—


Melia Hotels International S.A. (‘MHI’, Spain),










—


Equity Inmuebles S.L. (Spain).




Coral Reef and MHI will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the following twelve Properties and Businesses of Equity Inmuebles S.L: María Pita, San Sebastian Orly, Barajas, Madrid Gran Vía 25, Marbella Banús, Arona Tenerife, Madrid Alameda Aeropuerto, Guadalmar, Madrid Centro, Merida Medea, Puerto de la Cruz and Royal Tanau. Coral Reef will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of Equity Inmuebles S.L.’s Properties and Businesses Sancti Petri, Madrid Plaza de España and Me Madrid. MHI will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of Equity Inmuebles S.L.’s Properties and Businesses Los Fenicios and Puertollano.
The concentration is accomplished by way of purchase of shares, by way of purchase of assets and by way of contract of management.


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






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Coral Reef is an indirect wholly owned subsidiary of ADIA which is holding and administrating undertakings and financial instruments. ADIA is a public institution established by the Emirate of Abu Dhabi in 1976 as an independent investment institution. It invests funds allocated to it by the Government of Abu Dhabi and manages a global investment portfolio that is diversified across multiple asset classes.










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MHI currently operates more than 300 hotels in 48 countries across Asia, Europe, Middle East, Africa, South, Central and North America, and the Caribbean.










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Equity Inmuebles S.L. owns the real estate of a 17-hotel portfolio (the Properties and Businesses) spread across the Spanish mainland and the Canary Islands.






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.11190 – CORAL REEF / MHI / EQUITY INMEUBLES
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:





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.