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REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 14/11/2006

In electronic form on the EUR-Lex website under document number 32006M4411

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

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 14/11/2006

SG-Greffe(2006) D/206856

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

PUBLIC VERSION

To the notifying parties

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

1.On 06/10/2006, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which the undertakings AXA Investment Managers Deutschland GmbH (ìAXA IMDî, Germany) belonging to the AXA group and Investkredit Bank AG (ìInvestkreditî, Austria) belonging to ÷sterreichische Volksbanken-AG (÷VAG) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertakings Europolis Bitwy Warszawskiej Sp. z o.o., Poland Business Park VII Sp. z o.o., Europolis Saski Point Sp. z o.o., Europolis Sienna Center Sp. z o.o. and Warsaw Towers Sp. z o.o. (ìEuropolisî, Poland) by way of purchase of shares.

The business activities of the undertakings concerned are :

-- AXA IMD: active in management of assets;

-- Investkredit: a company providing financial services to corporate and real estate partners as well as loans for real estate projects;

-- Europolis: owner of office properties located in Warsaw, Poland.

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.

3.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, subparagraph 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 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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