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<MERGERS: Commission Approval of acquisitions by NN Group / Poste Vita / CBRE

Commission clears acquisition of logistic assets in Germany by NN Group, Poste Vita and CBRE

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over a portfolio of ten logistics assets located in Germany by the NN Group N.V. via its wholly owned subsidiary REI Germany Cross Docks B.V. of the Netherlands on the one hand, and by the CBRE Group Inc. of the US and Poste Vita of Italy on the other hand. The target portfolio comprises the following 10 real estate logistics assets currently leased to Deutsche Post DHL Group under long-term agreements: DHL Aachen-Würselen, DHL Hamm, DHL Essen, DHL Moers, DHL Böblingen/Holzgerlingen, DHL Kassel, DHL Brühl /Köln, DHL Freiburg, DHL Dortmund, DHL Lörrach. The NN Group is a global financial institution offering investment and insurance services. CBRE is a publicly-listed corporation on the New York Stock Exchange with real estate activities worldwide. Poste Vita is an Italian insurance company belonging to Poste Italiane which offers postal, logistics, savings, investments, payment, insurance and digital communication services. The Commission concluded that the proposed acquisition would raise no competition concerns, because of its very limited impact on the market structure. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.8279. (For more information: Ricardo Cardoso - Tel.: +32 229 80100; Maria Tsoni - Tel.: +32 229 90526)

Source: European Commission