Case No COMP/M.6052 - LONDON & CONTINENTAL RAILWAYS/ LEND LEASE EUROPE/ STRATFORD CITY BUSINESS DISTRICT

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 07/01/2011

Office for Publications of the European Union L-2985 Luxembourg

EUROPEAN COMMISSION

Brussels, 07.01.2011 SG-Greffe(2010) D/182/183 C(2010) 90

PUBLIC VERSION

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

To the notifying parties:

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

Subject: Case No COMP/M.6052 - LONDON & CONTINENTAL RAILWAYS/ LEND LEASE EUROPE/ STRATFORD CITY BUSINESS DISTRICT Notification of 25.11.2010 pursuant to Article 4 of Council Regulation (EC) No 139/2004 Publication in the Official Journal of the European Union No C 325, 02.12.2010, p.25

1.On 25 November 2010, the European Commission received a notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings London & Continental Railways Limited ("LCR", United Kingdom) and Lend Lease Europe Limited belonging to the Lend Lease group ("Lend Lease", Australia) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the undertaking Stratford City Business District Limited ("SCBD", United Kingdom) by way of purchase of shares in a newly created company constituting a joint venture.

1OJ L 24, 29.1.2004, p. 1 ("the Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by "internal market". The terminology of the TFEU will be used throughout this decision.

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

The business activities of the undertakings concerned are:

-- for LCR : shareholding in Eurostar International Limited and development interests at King's cross and Stratford in London.

-- for Lend Lease : international property company, active in development, investment management, project and construction management, and asset and property management.

-- for SCBD : development and management of land at Stratford City in London.

2.After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation 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 European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation.

For the Commission, (signed) Alexander ITALIANER Director General

2OJ C 56, 5.3.2005, p. 32.

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