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.

SECTION 1.2

Description of the concentration

The Transaction concerns the investment by Euro Petunia Private Limited (EPPL) (an entity that is indirectly wholly-owned by GIC (Realty) Private Limited (GIC Reality)) into citizen Holding B.V. (citizenM), a hotel owner and operator. As a result of the acquisition of a 25% voting stake in citizenM by EPPL, citizenM will be owned and jointly controlled by EPPL, Stichting Depositary APG Strategic Real Estate Pool (APG) and KRC Capital B.V. (KRC), whereby upon closing, APG, KRC and EPPL will hold 49.9%, 25.1% and 25% respectively in the full-function joint venture, citizenM.

The business activities of the undertakings concerned are:

-- citizenM: citizenM is established in the Netherlands and its principal area of business is the development, acquisition and operation of luxury hotels worldwide (including 11 operational hotels in the European Union);

-- GIC Realty: is established in Singapore and focuses on the ownership of real estate assets on behalf of the government of Singapore;

-- APG: is established in the Netherlands and is a depositary for an investment fund whose ultimate beneficial owner is ABP, a Dutch pension administration organisation that specialises in the field of collective pensions in the public sector;

-- KRC: is a limited liability company established in the Netherlands which manages investments in leisure and hospitality for its ultimate beneficial owner.

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.