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<MERGERS:Commission clears acquisition of the Chapelfield Partnership by intu and LaSalle Investment Management

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over the Chapelfield Partnership LP by intu properties plc ("intu") and LaSalle Investment Management ("LaSalle"), all of the UK. The Chapelfiled Partnership, currently indirectly wholly owned by intu, owns and operates the Chapelfield Shopping Centre in Norwich, UK. intu is a real estate investment trust, largely focused on shopping centre ownership, management and development across the UK and, to a lesser extent, in Spain. LaSalle - a subsidiary of Jones Lang LaSalle Incorporated of the US - is a real estate investment management firm. The Commission concluded that the proposed acquisition would raise no competition concerns given the companies' moderate combined market positions in the provision of real estate services in the UK resulting from the proposed transaction. The operation was examined under the simplified merger review procedure. More information will be available on the Commission's competition website, in the public case register under the case number M.8720.

Source: European Commission