Mergers: Commission clears acquisition of a parking facility in Berlin by Central and SIGNA

 The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over Berlin, Passauer Straße 1-3 Immobilien GmbH & Co. KG (JVCo) of Germany, by Harng Central Department Store Ltd. (Central), of Thailand and a subsidiary of SIGNA Prime Selection AG of Austria. JVCo is the owner of a real estate property plot in Berlin that is currently occupied by a multi storey car park. Central is active through subsidiaries in merchandising, real estate, retailing, hospitality and restaurants activities primarily in Southeast Asia including Thailand, Indonesia and Vietnam. SIGNA is engaged in real estate activities, including purchase, rent, lease and management of land and buildings as well as project development. The Commission concluded that the proposed acquisition would raise no competition concerns because of the limited impact of the transaction on the relevant markets. 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.8500.

 

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