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AIG / ORCO / HOSPITALITY INVEST
M.4684
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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 Commission has received notification of a proposed transaction pursuant to Article 4 of Council Regulation (EC) 139/2004 by which, ultimately, the undertakings AIG Global Real Estate Investment Corp. and Orco Property Group will acquire joint control within the meaning of Article 3(1)(b) of the EC Merger Regulation over hotel assets in the Czech Republic, Poland, Hungary, Slovakia and Russia which are currently solely controlled by Orco Property Group.
The business activities of the undertakings concerned are as follows:
(1) AIG Global Real Estate Investment Corp. ñ acquires, owns, develops and manages investments funds investing in real estate throughout the world.
(2) Orco Property Group - leading investor, developer and asset manager in the Central European real estate and hospitality market.
(3) Hospitality Invest S.·.r.l ñ a company which owns and operates hotels in Central and Eastern Europe.