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Case No COMP/M.2674 - SONAES / CNP-ASSURANCES / LL PORTO RETAIL JV

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REGULATION (EEC) No 4064/89 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 20/12/2001

Also available in the CELEX database Document No 301M2674

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

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 20.12.2001

PUBLIC VERSION

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

To the notifying parties

Dear Sirs,

Subject: Case No. COMP/M.2674 ñ Sonae / CNP Assurances / LL Porto Retail JV Notification of 20 November 2001 pursuant to Article 4 of Council Regulation 1(EEC) No. 4064/89 Publication in the Official Journal of the European Communities No. C 347, of 8 December 2001, page 3

1.On 20 November, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 by which the Portuguese undertaking Sonae Imobili·ria SGPS SA(ìSonaeî), belonging to the Sonae Group, and the French undertaking CNP Assurances (ìCNPî), acquire within the meaning of Article 3 (1) (b) of the Council Regulation joint control of the Portuguese undertaking LL Porto Retail SGPS, S.A. (ìLL Porto Retailî) by way of purchase of shares.

The business activities of the undertakings involved are:

-- for Sonae: leasing of real estate for commercial purposes, wooden derived products, food and non-food retailing, telecommunications, media, tourism, transport;

-- for CNP: life insurance;

-- for LL Porto Retail: leasing of real estate for commercial purposes.

2.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No. 4064/89 and of paragraph

1OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17.

Rue de la Loi 200, B-1049 Bruxelles/Wetstraat 200, B-1049 Brussel - Belgium Telephone: exchange 299.11.11 Telex: COMEU B 21877. Telegraphic address: COMEUR Brussels.

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 (EEC) No. 4064/89.

For the Commission

Signed by Mario MONTI Member of the Commission

2OJ C 217, 29.07.2000, p. 32.

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