CELEX: 32014M7124
Language: en
Date: 2014-02-25 00:00:00
Title: Commission Decision of 25/02/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7124 - CPPIB / INTU / PARQUE PRINCIPADO) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |
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                                        Brussels, 25.2.2014
                                        C(2014) 1356 final

                                        |To the notifying parties:                                          |                                                                   |

Dear Madam(s) and/or Sir(s),

Subject:    Case M.7124-CPPIB / INTU / PARQUE PRINCIPADO
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

 1. On 24 January 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation
    by which Canada Pension Plan Investment Board ("CPPIB", Canada) and Intu Properties Plc ("Intu", UK) will  acquire,  within  the  meaning  of
    Article 3(1) (b) of the Merger Regulation, joint control of Parque Principado S.a.r.l. ("Parque Principado", Luxemburg) by way of purchase of
    securities[2].

 2. The business activities of the undertakings concerned are:

      -     for CPPIB: professional investment management organisation that invests the assets of the Canada Pension  Plan  in  public  equities,
           private equities, real estate, infrastructure and fixed income investments.

      -     for Intu: real estate investment trust largely focused on shopping centre ownership, management and development across the UK.

      -     for Parque Principado: commercial real estate in Spain through the ownership of the 'Parque Principado Shopping Centre' and a  second
           property also located within the Parque Principado complex, notably the Eroski Unit in Oviedo, 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[3].

 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.

                                        For the Commission

                                        (signed)
                                        Alexander ITALIANER
                                        Director General
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[1]   OJ L 24, 29.1.2004, p. 1 ("the Merger Regulation").
[2]   Publication in the Official Journal of the European Union No C 35, 06/2/2014, p. 5.
[3]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE