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<MERGERS: Commission Approval

Commission clears acquisition of Dundrum Assets by Hammerson and Allianz

The European Commission has approved under the EU Merger Regulation the acquisition of several real estate assets, together "the Dundrum Assets", all located in Dublin, Ireland, by Hammerson plc of the United Kingdom and Allianz SE of Germany. The Dundrum Assets comprise the Dundrum Town Centre and the Dundrum Phase II & Village projects. Hammerson is active in real estate development and owns and manages shopping centres primarily in the United Kingdom and France. Allianz is active in the insurance sector and asset management for both private and corporate customers in more than 70 countries. The Commission concluded that the proposed acquisition would raise no competition concerns, because of its very limited impact on the market structure. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.7905. (For more information: Ricardo Cardoso - Tel. +32 229 80100; Carolina Luna Gordo - Tel.: +32 229 68386)

Source: European Commission