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.

COMP/M.4433 - RREEF / Peel Holdings / Peel Ports

SECTION 1.2

Description of the concentration

On 6 November 2006, the Commission received a notification of a proposed concentration

pursuant to Article 4 of Council Regulation (EC) No. 139/2004, by which Deutsche Bank AG

(ìDeutsche Bankî), through a fund, RREEF Pan-European Infrastructure Fund LP, which is

managed by a Deutsche Bank subsidiary, RREEF Limited, on the one hand and Peel Ports

Holdings (Guernsey) Limited (ìPeel Ports Holdingsî) on the other will acquire joint control

over Peel Ports Holdings (CI) Ltd (ìPeel Portsî). Peel Ports is currently wholly-owned and

controlled by Peel Ports Holdings.

The business activities of the undertakings concerned (and their respective corporate groups)

are as follows:

1.1. Deutsche Bank: global financial services.

2.2. Peel Ports Holdings and the wider Peel group of companies: land and property

investment and development; the operation and maintenance of port facilities in the UK and

Ireland including the provision of terminal services; ownership and management of The

Trafford Centre (a shopping and leisure complex near Manchester); and ownership and

management of various airports in the UK.