CELEX: 32019M9210
Language: en
Date: 2019-01-11 00:00:00
Title: Commission Decision of 11/01/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9210 - NN Group / Allianz Group / NRP Group) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels,11.1.2019
                                                                C(2019) 185 final
                                                                     PUBLIC VERSION
                                                                To the notifying parties:
Subject:        Case M.9210 – NN Group/Allianz Group/NRP/Target Entities
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                          2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 7 December 2018, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation, by which NN Group N.V.
        (‘NN Group’, the Netherlands), Allianz SE (‘Allianz Group’, Germany) and NRP Group
        (‘NRP’, Norway) acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger
        Regulation joint control of eight property companies and their corresponding real estate
        properties (the ‘Target Entities’, Denmark and Sweden), by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        -    for NN Group: financial services provider offering retirement services, insurance,
             investments and banking products,
        -    for Allianz Group: global financial services provider active in all market segments
             related to insurance, asset management and, to a very limited extent, real estate,
        -    for NRP: investment firm active in the provision of direct investment and fund
             solutions within the real estate, shipping and offshore sectors,
        -    for the Target Entities: eight property companies and their corresponding real estate
             properties located in Denmark and Sweden. Five of the Target Entities are currently
             solely controlled by NRP and the remaining three Target Entities are currently jointly
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 451, 14.12.2018, p. 22.
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---        controlled by NRP and another unaffiliated third party (T. Klaveness Eiendom AS for
       two of the three Target Entities, and Västerport Holding AB for the third Target
       Entity).
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
4  OJ C 366, 14.12.2013, p. 5.
                                                  2