CELEX: 32019M9548
Language: en
Date: 2019-11-08 00:00:00
Title: Commission Decision of 08/11/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9548 - APOLLO CAPITAL MANAGEMENT / COVIVIO / HILTON KILMAINHAM) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 08.11.2019
                                                                C(2019) 8109 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9548 – APOLLO CAPITAL MANAGEMENT / COVIVIO /
                HILTON KILMAINHAM
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
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                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 16 October 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Apollo Capital
        Management, L.P. (“Apollo”, U.S.A.) and Covivio, S.A. (“Covivio”, France) acquire
        within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control
        over the whole of Hilton Kilmainham Hotel (“Hilton Kilmainham”, Ireland) by way
        of purchase of shares and a hotel management agreement.3
2.      The business activities of the undertakings concerned are:
             for Apollo: investments funds managed by affiliates of Apollo invest in
              companies and debt issued by companies involved in various businesses
              throughout the world. Examples of current investments include, inter alia,
              companies in education, insurance, financial services, lighting, and leisure
              businesses.
             for Covivio: is a French real estate investment group with a commercial assets
              portfolio across Europe mainly comprising of offices, as well as residential assets
              and hotels. Covivio currently owns 466 hotels in countries in the EEA (France,
              Germany, UK, Spain, Belgium, Netherlands, and Portugal), and manages seven of
              these hotels directly.
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 361, 25.10.2019, p. 7.
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---        for Hilton Kilmainham: is a four star hotel in Dublin city centre, offering 120
        bedrooms, as well as a restaurant, bar and conference facilities.
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(b) 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)
                                                   Cecilio MADERO VILLAREJO
                                                   Acting Director-General
4  OJ C 366, 14.12.2013, p. 5.
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