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<MERGERS: Commission clears acquisition of two real estate joint ventures by OMERS, DV4, QIA and ABP

The European Commission has approved under the EU Merger Regulation the acquisition of two real estate joint ventures, E1EV LLPs and E2LG LLPs,based in the UK by Oxford Jersey Holding Company Limited ("Oxford") of Jersey, DV4 Limited of the British Virgin Islands, Qatari Diar Real Estate Investment Company Q.P.S.C. ("QDREIC") of Qatar and Stichting Depositary APG Strategic Real Estate Pool ("APG") of the Netherlands. E1EV LLPs and E2LG LLPs are two joint ventures managing and developing a portfolio of residential and retail real estate assets in the UK, notably in London (Tribeca Square LLP, East Village London LLP, Elephant and Castle LLP), Glasgow (Merchant City LLP) and Leeds (Holbeck Quarter LLP). Oxford is part of the wider OMERS Administration Corporation of Canada, which manages a diversified global portfolio of stocks and bonds as well as real estate, private equity and infrastructure investments. DV4 is a real estate investment fund. QDREIC is a real estate investment and development company, wholly owned by QIA, the sovereign investment fund of the State of Qatar. APG is a depositary for an investment fund whose ultimate beneficial owner is Stichting Pensioenfonds ABP ("ABP"), a pension administration organisation specialised in the field of collective pensions in the public sector. The Commission concluded that the proposed acquisition would raise no competition concerns, given the limited horizontal overlaps and the limited vertical relationships between the companies' activities. 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.8786. (For more information: Ricardo Cardoso - Tel.: +32 229 80100; Giulia Astuti - Tel: +32 229 55344)

Source: European Commission