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REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 26/07/2006

In electronic form on the EUR-Lex website under document number 32006M4245

Office for Official Publications of the European Communities L-2985 Luxembourg

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 26.07.2006 SG-Greffe(2006) D/204261

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

PUBLIC VERSION

To the notifying parties

Dear Madam(s) and/or Sir(s),

1.On 27.06.2006, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which the undertakings Stichting Pensioenfonds ABP (ìABPî, The Netherlands), Europe Realty Holdings Pte. Ltd. (ìEurope Realtyî, Singapore) through its wholly-owned subsidiary Jasmine Hotels Private Limited (ìJasmine Hotelsî, Singapore) and Host Hotels & Resorts, Inc. (ìHostî; US) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertakings HHR EURO CV (ìHHR EUROî, The Netherlands) and HHR TRS CV (ìHHR TRSî, The Netherlands) by way of shareholders agreement.

1OJ L 24, 29.1.2004 p. 1

Commission europÈenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.

The business activities of the undertakings concerned are:

-- for ABP: provision of income security against disability, death and pension for the employers and employees in the Service of the Dutch government and the educational sector.

-- for Europe Realty: ownership and administration of the assets of the Government of Singapore.

-- for Host: ownership and operation of hotels in the US, Canada, Chile and Mexico.

-- for HHR EURO: investment in hotel real estate in the European Union.

-- for HHR TRS: leasing hotel real estate from HHR EURO

2.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 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.

For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EC) No. 139/2004.

For the Commission signed Philip LOWE Director General

2OJ C 56, 05.3.2005 p.32

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