CELEX: 32015M7848
Language: en
Date: 2015-12-10 00:00:00
Title: Commission Decision of 10/12/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7848 - ATP / AXA / CLUB QUARTERS / CLEAVON) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 10/12/2015
                                        C(2015) 9239 final

                                        [pic]

|To the notifying parties:                                              |                                                                       |                                                                       |
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Dear Sirs,

Subject:    Case M.7848 - ATP / AXA / CLUB QUARTERS / CLEAVON
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 13 November 2015, the European Commission received notification of  a  proposed  concentration  pursuant  to  Article  4  of  the  Merger
    Regulation by which AXA S.A ("AXA", France) and Arbejdsmarkedets Tillægspension ("ATP", Denmark)  acquire  within  the  meaning  of  Article
    3(1)(b) and of the Merger Regulation joint control over Cleavon S.à.r.l (Luxembourg), which holds two  hotels  and  ancillary  retail  units
    located in London, by way of purchase of shares. AXA and ATP will acquire joint control over the two  hotels  together  with  Club  Quarters
    Management LLC ("Club Quarters", USA) by virtue of pre-existing hotel management agreements.[3]

 2. The business activities of the undertakings concerned are:

  – for AXA : life, health and other forms of insurance, as well as investment management;

  – for ATP : administering a number of welfare and social security schemes that help to provide basic security for Danish citizens;

  – for Club Quarters : owning, managing and operating hotels. It is also involved in real estate development including  hotels  and  mixed  use
    development.

 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

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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]   OJ L 1, 3.1.1994, p. 3 ("the EEA Agreement").

[3]   Publication in the Official Journal of the European Union No C 385, 19.11.2015, p. 17.

[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE