CELEX: 32018M9050
Language: en
Date: 2018-11-07 00:00:00
Title: Commission Decision of 07/11/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.9050 - Hammerson plc / M&G Limited / Highcross) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 07.11.2018
                                                                C(2018) 7487 final
                                                                      PUBLIC VERSION
                                                                To the notifying parties :
Subject:        Case M.9050 – Hammerson/M&G/Highcross
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                          2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 11 October 2018, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Hammerson plc
        ("Hammerson", United Kingdom) and M&G Limited ("M&G", United Kingdom),
        belonging to Prudential plc ("Prudential", United Kingdom), acquire within the meaning of
        Article 3(1)(b) and Article 3(4) of the Merger Regulation joint control of the whole of
        Highcross shopping centre in Leicester (United Kingdom), by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Hammerson: commercial real estate development and ownership-management of
              retail property in Europe. Its portfolio includes investments in prime shopping centres
              in the United Kingdom, Ireland and France, retail parks in the United Kingdom and
              premium retail outlets across Europe,
             for M&G: wholly-owned indirect subsidiary of Prudential, an international financial
              services group. Amongst other investments, Prudential invests on behalf of its clients
              in property, primarily through the M&G Real Estate brand.
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 introduced 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 376, 18.10.2018, p. 31.
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.
 ---pagebreak--- 3. After examination of the notification, the European 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 139/2004.4
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.
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