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<MERGERS: Commission clears acquisition of a real estate joint venture in Manchester by OMERS, DV4 and ABP

The European Commission has approved, under the EU Merger Regulation, the acquisition of a newly created joint venture by Oxford DOOR Investor (UK) LLP, of the UK, DV4 Limited, of the British Virgin Islands and Stichting Depositary APG Strategic Real Estate Pool ("APG"), of the Netherlands. The joint venture will own, develop and manage residential real estate to offer for rent at Middlewood Locks site in Manchester, UK. Oxford DOOR Investor is part of the wider OMERS group 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. APG is a depositary for an investment fund, whose ultimate beneficial owner is Stichting Pensioenfonds ABP, a pension administration organisation. The Commission concluded that the proposed acquisition would raise no competition concerns, given the limited horizontal overlaps between the companies' activities. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competitionwebsite, in the public case register under the case number M.8958. (For more information: Ricardo Cardoso - Tel.: +32 229 80100; Maria Tsoni - Tel.: +32 229 90526)

Source: European Commission