CELEX: 32015M7474
Language: en
Date: 2015-01-21 00:00:00
Title: Commission Decision of 21/01/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7474 - QIA / BPP / SONGBIRD) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 21.01.2015
                                                                                      C(2015) 327 final

                                        [pic]

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

Subject:    Case M.7474 - QIA/ BPP/ SONGBIRD
         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 15.12.2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation  by
    which the undertakings Qatar Investment Authority (''QIA'', Qatar) and Brookfield Property Partners LP ("BPP", Bermuda) acquire  within  the
    meaning of Article 3(1)(b) of the Merger Regulation joint control of Songbird Estates plc ("Songbird", United Kingdom) by way  of  a  public
    bid.[3]

 2. The business activities of the undertakings concerned are:

    – QIA is the sovereign investment fund of the State of Qatar.

    – BPP is solely controlled by Brookfield Asset Management Inc (Canada),  which  is  an  alternative  asset  management  company  focusing  on
      investments in property, renewable energy, infrastructure, and private equity.

    – Songbird is the parent company of Canary Wharf Group plc, which is active in the development, investment  and  management  of  property  in
      London, primarily in the Canary Wharf area.

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

[3]   Publication in the Official Journal of the European Union No C 461, 20.12.2014, p. 45.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE