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<MERGERS: Commission Approval / ILAC-Hammerson / Irish Life

Commission clears acquisition of joint control over ILAC Shopping Centre by Hammerson and Irish Life

The European Commission has approved under the EU Merger Regulation the acquisition of joint control over the ILAC Shopping Centre in Ireland by Hammerson plc of the UK and its current owner, Irish Life Assurance plc of Ireland. ILAC is a shopping centre situated in Dublin, which comprises a mix of more than 80 retailers and catering units. Hammerson owns, develops and manages commercial real estate in Europe. Irish Life is a life and pensions company that provides protection, pensions and savings products to clients across retail, corporate and investment management businesses. The Commission concluded that the proposed acquisition would raise no competition concerns, because of its limited impact on the market structure. The transaction was examined under the normal merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.8229.

Source: European Commission