EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 03/02/2016

In electronic form on the EUR-Lex website under document number 32016M7905

EUROPEAN COMMISSION

Brussels, 3.2.2016 C(2016) 745 final

PUBLIC VERSION

SIMPLIFIED MERGER PROCEDURE

To the notifying parties:

Dear Sirs,

1.1. On 08 January 2016, the European Commission received notification of a proposed

concentration pursuant to Article 4 of the Merger Regulation by which Hammerson plc

("Hammerson", United Kingdom) and Allianz SE ("Allianz", Germany) acquire within the

meaning of Article 3(1)(b) of the Merger Regulation joint control of Dundrum Town Centre

and related real estate assets (the "Dundrum Assets") by way of purchase of shares in a

newly created company constituting a joint venture.

2. The business activities of the undertakings concerned are:

-– for Hammerson : developing real estates, owning and managing shopping centers and retails parks primarily in the United Kingdom and France;

-– for Allianz : offering a comprehensive range of insurance and asset management products and services to both private and corporate customers in more than 70 countries, with the largest of its operations in Europe.

1 OJ 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.

2 OJ L 1, 3.1.1994, p. 3 ("the EEA Agreement").

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.

– The Dundrum Assets: comprise the Dundrum Town Centre and the Dundrum Phase II & Village projects, both located in Dublin, Ireland.

3.3. 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(b) of

the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

4.4. 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 and Article 57 of the EEA Agreement.

For the Commission

(Signed) Johannes LAITENBERGER Director-General

3 Publication in the Official Journal of the European Union No C 15, 16.01.2016, p. 13.

4 OJ C 366, 14.12.2013, p. 5.

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