m8217.docx EUROPEAN COMMISSION Brussels, 17.11.2016 C(2016) 7548 final To the notyfing parties Subject : Case M. 8217 - CPPIB / HAMMERSON / GRAND CENTRAL Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 1 and Article 57 of the Agreement on the European Economic Area 2 Dear Sir or Madam, 1. On 21 October 2016 , the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the Canada Pension Plan Investment Board ("CPPIB", Canada) and Hammerson plc (" Hammerson ", United Kingdom) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of a shopping center called Grand Central (United Kingdom), currently solely controlled by Hammerson , by way of purchase of shares .
3 2. The business activities of the undertakings concerned are: - for CPPIB: professional investment management in real estate, public equities, private equities, infrastructure and fixed income instruments; - for Hammerson : commercial real estate ownership, management and development in Europe, including shopping centres in France and the United Kingdom ; - for Grand Central: operation of a shopping centre in Birmingham, United Kingdom . 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 6 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 (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 ' ). (3) Publication in the Official Journal of the European Union No C 398 , 28.10.2016 , p. 62 . (4) OJ C 366, 14.12.2013, p. 5 .