CELEX: 32021M10373
Language: en
Date: 2021-07-26 00:00:00
Title: Commission Decision of 26/07/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10373 - PRIMONIAL / SAMSUNG / TARGET) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 26.07.2021
                                                                 C(2021) 5718 final
                                                                                 PUBLIC VERSION
                                                                 Samsung SRA Asset Management Co,
                                                                 LTD
                                                                 16th Fl., Samsung Life Seocho Tower,
                                                                 4, Seocho-daero 74-gil, Seocho-gu
                                                                 06620 Seoul
                                                                 Republic of Korea
                                                                 Primonial Real Estate Investment
                                                                 Management
                                                                 36, rue de Naples
                                                                 75008 Paris
                                                                 France
Subject:        Case M.10373 – PRIMONIAL / SAMSUNG / TARGET
                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 23 June 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Primonial Real Estate Investment Management, belonging to the
        Primonial Group (“Primonial”, France), and Samsung SRA Asset Management,
        belonging to the Samsung Group, (“Samsung”, Korea), intend to acquire within the
        meaning of Article 3(1)(b) of the Merger Regulation joint control over the whole of
        the undertaking SCI TS Influence (“Target”, France) by way of purchase of shares.3
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 262, 5.7.2021, p. 16-17.
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--- 2. The business activities of the undertakings concerned are:
       for Primonial: real estate investment group mainly active in France, co-controlled
        by Bridgepoint Group (UK) and Latour Capital Management SAS (France), both
        independent private equity groups,
       for Samsung: conglomerate active globally in a wide array of industries, including
        electronics, shipbuilding, engineering and insurance,
       for Target: real estate company currently controlled by the Tishman Speyer
        Group (USA) and owner of a single building (called ‘Influence’) located in Saint-
        Ouen, France.
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)
                                                    Olivier GUERSENT
                                                    Director-General
4  OJ C 366, 14.12.2013, p. 5.
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