CELEX: 32015M7542
Language: en
Date: 2015-11-26 00:00:00
Title: Commission Decision of 26/11/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7542 - GRIFFIN / SKANSKA / STARWOOD / HOTEL ATRIUM) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

Brussels, 26.11.2015
C(2015) 8532 final

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|To the notifying parties:                                              |                                                                       |
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Dear Sirs,

Subject:    Case M.7542 - GRIFFIN / SKANSKA / STARWOOD / HOTEL ATRIUM
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 October 2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation
    by which the undertakings GT Netherlands IV B.V. ('Griffin') (Netherlands) ultimately controlled by the Oaktree Capital Group LLC  ('Oaktree
    Group', USA), Skanska Central Europe Holding B.V. ('Skanska') (Netherlands), ultimately controlled  by  Skanska  AB  ('Skanska  Group')  and
    Starwood EAME License and Services Company BVBA ('Starwood') (Belgium), ultimately controlled by Starwood Hotels &  Resorts  Worldwide,  Inc
    ('Starwood Group', USA) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control over Hotel Atrium  sp.
    z o.o. ('Hotel Atrium') (Poland) by way of purchase of shares and contract of management.

 2. The business activities of the undertakings concerned are:

    – The Oaktree Group specialises in alternative investments. Its Griffin subgroup is active on the real estate market in Central  and  Eastern
      Europe. Griffin's main activity consists in renting out and operating of own and leased real estates.

    – The Skanska Group's principal activities are project development, construction services and other services related to real estate.  Skanska
      is a holding company whose affiliates offer real estate development services.

    – The Starwood Group is a worldwide hotel and leisure operator. Its brands include Sheraton, Westin, W, Four  Points  by  Sheraton,  St.Regis
      and the Luxury Collection. Starwood is an operator of, among others, the Westin hotel in Warsaw.

    – Hotel Atrium is the owner of the property located in Warsaw, currently operated as a hotel under the brand name Westin.[3]

 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) 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 370, 07.11.2015, p. 6.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE