EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 28/04/2016

In electronic form on the EUR-Lex website under document number 32016M7989

EUROPEAN COMMISSION

Brussels, 28.4.2016 C(2016) 2732 final

PUBLIC VERSION

SIMPLIFIED MERGER PROCEDURE

To the notifying parties:

Dear Sirs,

1.On 05 April 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings Griffin Topco III S.à.r.l. ("Griffin", Luxembourg), ultimately controlled by Oaktree Capital Group LLC ("Oaktree", United States of America), LVS II Lux XX S.à.r.l. ("LVS II Lux XX", Luxembourg), a wholly-owned subsidiary of an investment fund managed by Pacific Investment Management Company LLC ("PIMCO", United States of America) and Redefine Properties Limited (''Redefine'', South Africa), acquire within the meaning of Article 3(4) of the Merger Regulation joint control of Echo Prime Properties B.V. (''Echo Prime JV'', Poland) by way of purchase of shares.

The business activities of the undertakings concerned are:

- for Griffin: investment activities, including in real estate assets and services. Griffin belongs to Oaktree, an investment company;

- for LVS II Lux XX: investment activities, including in real estate assets and services. LVS II Lux XX is fully owned by PIMCO, an investment company;

1OJ L 24, 29.1.2004, p. 1 (the 'Merger Regulation'). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ('TFEU') has introduced certain changes, such as the replacement of 'Community' by 'Union' and 'common market' by 'internal market'. The terminology of the TFEU will be used throughout this decision.

2OJ L 1, 3.1.1994, p. 3 (the 'EEA Agreement').

3Publication in the Official Journal of the European Union No C 128, 12.04.2016, p. 28.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.

- for Redefine : investment in real estate assets and services, mainly in South Africa and Australia;

- for Echo Prime JV: real estate assets and services transferred from Echo Investment. Echo Investment is a joint venture indirectly jointly controlled by Oaktree and PIMCO.

3.After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5 (c) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

4.For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission

(signed) Johannes LAITENBERGER Director-General

OJ C 366, 14.12.2013, p. 5.

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