Mergers: Commission clears acquisition of Serena by Balder and Varma

 The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over Serena Properties AB ("Serena") of Finland by Fastighets AB Balder ("Balder") of Sweden, together with the current parent Varma Mutual Pension Insurance Company ("Varma") of Finland. Serena is active in the Finnish real estate market for commercial use, specializing in retail properties such as grocery stores and discounters. Balder is a real estate company which owns, manages and develops residential and commercial properties and hotels. Varma is a mutual insurance insurance company. The Commission concludes that it will not be able to compete in the future. The transaction was examined under the simplified merger review procedure. More information is available on the Commission'scompetitionwebsite, in the public case register under the case number M.8576 . 

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