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Case No COMP/M.5893 - ALLIANZ/ CORIO/ PORTA DI ROMA

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REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 06/08/2010

In electronic form on the EUR-Lex website under document number 32010M5893

Office for Publications of the European Union L-2985 Luxembourg

EUROPEAN COMMISSION

Brussels, 06.08.2010 SG-Greffe(2010) D/12079/12080 C(2010) 5580

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.5893 – ALLIANZ/ CORIO/ PORTA DI ROMA Notification of 08.07.2010 pursuant to Article 4 of Council Regulation (EC) No 139/2004 Publication in the Official Journal of the European Union No C 191, 15July 2010, p. 24

1.On 08/07/2010, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 , by which the undertakings Allianz SE ("Allianz", Germany) and Corio NV ("Corio", the Netherlands), acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of Galleria Commerciale Porta di Roma S.p.A. ("Porta di Roma" ) and Allianz Real Estate Italia No. 1 S.r.l., ("Allianz REI No.1", Italy), both currently under sole control of Allianz, by way of purchase of shares.

The business activities of the undertakings concerned are:

-- Allianz : insurance and financial services;

-- Corio : development of real estates;

-- Porta di Roma : operation of a shopping Mall located in the shopping centre Galleria Commerciale Porta di Roma in the area of Rome, Italy;

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.

-- Allianz REI No. 1: operation of 9 business units in the Galleria Commerciale Porta di Roma shopping centre.

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(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 European Commission, (signed) Alexander ITALIANER Director General

2OJ C 56, 5.3.2005, p. 32.

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