What Commission Decision of 17/11/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.8217 - CPPIB / HAMMERSON / GRAND CENTRAL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic) requires
On 21 October 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the Canada Pension Plan Investment Board ('CPPIB', Canada) and Hammerson plc ('Hammerson', United Kingdom) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of a shopping center called Grand Central (United Kingdom), currently solely controlled by Hammerson, by way of purchase of shares. After examination of the notification, the European Commission concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 6 of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004. For the reasons set out in the Notice on a simplified procedure, the European Commission 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.
Pillar: Legal & IP Sovereignty · Authority: European Commission · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32016M8217
SHA-256 integrity: f3a17b6fc0322bd0f53ebc6bc36fc47e866903503eb34b71dc232d62051672f7
Primary Citations — 9 traced to source
- Paragraph 1: 'On 21 October 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the Canada Pension Plan Investment Board ("CPPIB", Canada) and Hammerson plc ("Hammerson", United Kingdom) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of a shopping center called Grand Central (United Kingdom), currently solely controlled by Hammerson, by way of purchase of shares.'
- Paragraph 2: 'for CPPIB: professional investment management in real estate, public equities, private equities, infrastructure and fixed income instruments; for Hammerson: commercial real estate ownership, management and development in Europe, including shopping centres in France and the United Kingdom; for Grand Central: operation of a shopping centre in Birmingham, United Kingdom.'
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