CELEX: 32015M7689
Language: en
Date: 2015-08-06 00:00:00
Title: Commission Decision of 06/08/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7689 - CPPIB / INTU HOLDING / PUERTO VENECIA) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 6.8.2015
                                        C(2015) 5720 final

                                        [pic]

|To the notifying parties:                                              |                                                                       |

Dear Sirs,

Subject:    Case M.7689- CPPIB/ INTU HOLDING/ PUERTO VENECIA
         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 10/07/2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation  by
    which the undertakings Canada Pension Plan Investment Board (‘CPPIB’, Canada) and Intu Holding Sàrl  (‘Intu  Holding’,  Luxembourg)  acquire
    within the meaning of Article 3(1)(b) of the Merger Regulation joint control of Puerto Venecia Investments  Socimi,  SA  (‘Puerto  Venecia’,
    Spain) by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

    —      for CPPIB: investments in public equities, private equities, real estate, infrastructure and fixed income investments,

    —      for Intu Holding: shopping centre ownership, management and development. Intu Holding is a wholly owned subsidiary of Intu Properties
         plc, which also has commercial real estate rental activities, ancillary retail interests in retail parks, high street properties, office
         spaces, residential, industrial and leisure facilities and pre-development activities on real estate sites,

    —   for Puerto Venecia: commercial real estate rental. Puerto Venecia holds a shopping mall and retail park located in Zaragoza.

 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 240, 22.07.2015, p. 3.

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

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       PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE