CELEX: 32013M7118
Language: en
Date: 2013-12-16 00:00:00
Title: Commission Decision of 16/12/2013 declaring a concentration to be compatible with the common market (Case No COMP/M.7118 - AXA / NORGES BANK / SZ TOWER) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |
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                                        Brussels, 16.12.2013
                                        C(2013) 9585 final

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|To the notifying parties:                                          |                                                                              |
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Dear Madam(s) and/or Sir(s),

Subject:    Case No COMP/M.7118 - AXA/ NORGES BANK/ SZ TOWER
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

   1) On 18.11.2013, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation  by
      which AXA (France) and Norges Bank (Norway) acquire within the meaning of Article 3(1) (b) of the Merger Regulation  joint  control  of  SZ
      Tower (Germany) by way of purchase of assets.

2.    The business activities of the undertakings concerned are:

      -     AXA is a global insurance groupe active in life, health and other forms of insurance, as well as in investment management;

      -     Norges Bank is the Norway’s central bank. In addition to managing the investments of the Government Pension Fund Global, Norges  Bank
           carries out several activities, in particular monetary policy, management  of  long-term  foreing  exchange  reserves  and  financial
           stability;

      -     SZ Tower is an office building in Munich, Germany, consisting of a 6-floor campus building and a 28-floor high-rise building  with  3
           lower levels and an underground garage.[2]

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[3].

   3. 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.

                                        For the Commission

                                        (signed)
                                        Alexander ITALIANER
                                        Director General
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[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]   Publication in the Official Journal of the European Union No345, 26.11.2013, p.18.

[3]   OJ C 56, 5.3.2005, p. 32.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE