CELEX: 32016M8049
Language: en
Date: 2016-06-23 00:00:00
Title: Commission Decision of 23/06/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.8049 - TPG CAPITAL / PARTNERS GROUP / TH REAL ESTATE PORTFOLIO) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 23.6.2016
                                        C(2016) 4022 final

                                        [pic]

                                        To the notifying Parties

Dear Sirs,

Subject:    Case M.8049 – TPG CAPITAL / PARTNERS GROUP / TH REAL ESTATE PORTFOLIO
         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 30 May 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation  by
    which the undertakings TPG Capital (‘TPG’, United States) and Partners Group (‘Partners Group’, Switzerland) acquire within the  meaning  of
    Article 3(1)(b) of the Merger Regulation joint control of five shopping centres and  retail  parks  located  in  Spain  and  Italy  (‘Target
    Assets’) by way of purchase of shares in a newly created company constituting a joint venture.[3]

 2. The business activities of the undertakings concerned are:

      – For TPG: is a private investment firm that manages a family of funds that invest in a  variety  of  companies  through  acquisitions  and
        corporate restructurings. TPG is based in San Francisco, United States.

      – For Partners Group: is a private markets management firm. It makes investments in equity and debt of private companies, real estate,  and
        infrastructure projects worldwide. It provides investment  services  to  both  institutional  and  private  investors.  Partners  Group’s
        headquarters are located in Baar, Switzerland.

      – For the Target Assets they comprise: (1) Centro Navile Retail Park, in Bologna, Italy; (2) Metropolis Shopping Centre, in  Rende,  Italy;
        (3) L’Aljub Shopping Centre, in Elche, Spain; (4) Miramar Retail Park,  in  Fuengirola,  Spain;  and  (5)  Miramar  Shopping  Centre,  in
        Fuengirola, Spain.

 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

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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 199, 04.06.2016, p. 15.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE