CELEX: 32019M9365
Language: en
Date: 2019-06-14 00:00:00
Title: Commission Decision of 14/06/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9365 - Euro Petunia Private Limited (EPPL) / Stichting Depositary APG - Strategic Real Estate Pool (APG) / CitizenM / KRC Capital B.V) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels,14.6.2019
                                                                C(2019) 4516 final
                                                                                      PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9365 – EPPL/APG/KRC/citizenM
                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 16 May 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which (i) Euro Petunia
        Private Limited (‘EPPL’, Singapore), controlled by GIC (Realty) Private Limited (‘GIC
        Realty’, Singapore), (ii) Stichting Depositary APG Strategic Real Estate Pool (‘APG’, the
        Netherlands), controlled by Stichting Pensioenfonds ABP (‘ABP’, the Netherlands) and
        (iii) KRC Capital B.V. (‘KRC’, the Netherlands) acquire within the meaning of Article
        3(1)(b) and 3(4) of the Merger Regulation joint control of citizenM Holding B.V.
        (‘citizenM’, the Netherlands)3. The concentration is accomplished by way of purchase of
        shares
2.      The business activities of the undertakings concerned are:
        -    for EPPL: an investment company belonging to GIC Reality, focusing on the
             ownership of real estate assets on behalf of the Government of Singapore,
        -    for APG: a depositary for an investment fund whose ultimate beneficial owner is ABP,
             a Dutch pension administration organisation that specialises in the field of collective
             pensions in the public sector,
        -    for KRC: a managing company for investments in leisure and hospitality,
        -    for citizenM: active in the development, acquisition and operation of luxury hotels
             worldwide
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 179, 24.05.2019, p. 18.
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--- 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.
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