CELEX: 32020M9665
Language: en
Date: 2020-03-05 00:00:00
Title: Commission Decision of 05/03/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9665 - GENERALI REAL ESTATE / APLEONA REAL ESTATE / PROPERTY MANAGEMENT JV) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 05.03.2020
                                                                C(2020) 1531 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9665 – GENERALI REAL ESTATE / APLEONA REAL ESTATE
                / PROPERTY MANAGEMENT JV
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 11 February 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Generali Real
        Estate S.p.A. (“Generali RE”, Italy), controlled by Assicurazioni Generali S.p.A
        (Italy) and Apleona Real Estate GmbH (“Apleona RE”, Germany), belonging to the
        Apleana Group (Germany) and indirectly controlled by EQT AB (Sweden) acquire
        within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control
        of a newly created property management joint venture (“the JV”) by way of purchase
        of shares.3
2.      The business activities of the undertakings concerned are:
             for Generali RE: a real estate asset manager, operating with an integrated business
              model providing the full scope of asset management including property
              management services;
             for Apleona RE: offers management services for real estate of all types of use.
              Apleona RE is part of the Apleona Group, a European group of companies active
              in integrated facility management, technology development and real-estate
              management with all commercial services, real estate marketing and leasing.
              Apleona Group, in turn, is owned by EQT VII (Luxembourg), an investment fund
              which is part of the EQT group, a group of private investment funds ultimately
              controlled by EQT AB (Sweden);
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 56, 19.02.2020, p. 6.
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 the JV: provision of property management services in Austria.
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(a) and 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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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