CELEX: 32016M7905
Language: en
Date: 2016-02-03 00:00:00
Title: Commission Decision of 03/02/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.7905 - HAMMERSON / ALLIANZ GROUP / DUNDRUM TOWN CENTRE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

Brussels, 3.2.2016
C(2016) 745 final

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| To the notifying parties:                                             |                                                                       |
|                                                                       |                                                                       |

Dear Sirs,

Subject:    Case M.7905 - HAMMERSON / ALLIANZ GROUP / DUNDRUM TOWN CENTRE
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 08 January 2016, the European Commission received notification of  a  proposed  concentration  pursuant  to  Article  4  of  the  Merger
      Regulation by which Hammerson plc ("Hammerson", United Kingdom) and Allianz SE ("Allianz", Germany) acquire within the meaning  of  Article
      3(1)(b) of the Merger Regulation joint control of Dundrum Town Centre and related real estate assets  (the  "Dundrum  Assets")  by  way  of
      purchase of shares in a newly created company constituting a joint venture.

 2. The business activities of the undertakings concerned are:

    – for Hammerson : developing real estates, owning and managing shopping centers and  retails  parks  primarily  in  the  United  Kingdom  and
      France;

    – for Allianz : offering a comprehensive range of insurance and asset  management  products  and  services  to  both  private  and  corporate
      customers in more than 70 countries, with the largest of its operations in Europe.

    – The Dundrum Assets: comprise the Dundrum Town Centre and the Dundrum Phase II & Village projects, both located in Dublin, Ireland.[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(b) 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 15, 16.01.2016, p. 13.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE