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AXA / PRADERA / TARGETS
M.8709
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
M.8709 – AXA / PRADERA / TARGETS
SECTION 1.2
Description of the concentration
On 3 November 2017, the European Commission received the notification of the proposed concentration pursuant to Council Regulation (EC) 139/2004 by which Pan European Value Added Venture S.C.A. (“PEVAV”), an entity ultimately controlled by AXA S.A. (“AXA”), and Pradera Limited, a wholly-owned subsidiary of Pradera Group Limited (“Pradera”) intend to acquire, by means of the purchase of shares, joint control over two real estate assets located in Italy within the meaning of Article 3(1)(b) of the Merger Regulation.
• PEVAV is an unregulated alternative investment fund whose exclusive purpose is to invest its funds in European real estate assets and which already owns real estate properties/portfolios. PEVAV is controlled by the AXA group which is a global insurance group headquartered in Paris. The group companies of AXA are active in life, health and other forms of insurance, as well as investment management.
• Pradera Limited was incorporated on 10 June 1999 and its activities pertain to asset management and investments in pan-European real estate assets. It belongs to the Pradera group which is a market leading specialist fund and asset manager of shopping centres and retail parks in Europe and Asia.
• The two real estate properties are a shopping centre located in Torino and an adjacent real estate property which is used for trade fairs and exhibitions, both located in the Lingotto complex.
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.