CELEX: 32018M9154
Language: en
Date: 2018-12-19 00:00:00
Title: Commission Decision of 19/12/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.9154 - Oxford Properties Group / APG Asset Management NV / Qatari Diar Europe LLP / DV4 Limited) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 19.12.2018
                                                                C(2018) 9170 final
                                                                     PUBLIC VERSION
                                                                To the notifying parties :
Subject:        Case M.9154 – DV4 / ABP / OMERS / QIA / REAL ESTATE JV
                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 26 November 2018, the Commission received notification of a proposed concentration
        pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which Oxford Jersey
        Holding Company Limited (‘Oxford’, Jersey), DV4 Limited (‘DV4’, British Virgin
        Islands), Stichting Depositary APG Strategic Real Estate Pool (‘APG’, the Netherlands)
        and Qatari Diar Real Estate Investment Company Q.P.S.C. (‘QDREIC’, Qatar) acquire
        within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control over
        an existing joint venture that owns, develops, manages and offers for rent residential real
        estate at the Middlewood Locks site in Manchester (United Kingdom). The concentration
        is accomplished by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        - for DV4: a real estate investment fund;
        - for APG: a depositary for an investment fund whose ultimate beneficial owner is
             Stichting Pensioenfonds ABP (‘ABP’), a pension administration organisation that
             specialises in the field of collective pensions in the public sector;
        - for Oxford: part of the wider OMERS Administration Corporation (‘OMERS’)
             Group. OMERS is the administrator of the Ontario Municipal Employees Retirement
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 435, 03.12.2018, p. 40.
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---        System Primary Pension Plan and trustee of the pension funds. OMERS manages a
       diversified global portfolio of stocks and bonds as well as real estate, private equity and
       infrastructure investments;
   - for QDREIC: a real estate investment and development company, a wholly owned
       entity of the Qatar Investment Authority (‘QIA’) of the State of Qatar.
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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