32006M4246

Brussels, 27.06.2006

SG-Greffe(2006) D/203356

To the notifying parties

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

Subject: Case No. COMP/M.4246 – Merill Lynch / Farallon / Barceló / Playa

Notification of 22/05/2006 pursuant to Article 4 of Council Regulation (EC) No. 139/2004 [1]

Publication in the Official Journal of the European Union No. C128, 01/06/2006, page 21

1. On 22/05/2006, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which the undertakings Merill Lynch L.P. Holdings, Inc (“MLLPHI”, USA), controlled by Merill Lynch & Co., Inc., Cabana Investors B.V. (“Farallon”, USA), part of the Farallon Group and Barceló Corporación Empresarial, S.A. (“Barceló”, Spain), belonging to the group Barceló, acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking Playa Hotels & Resorts, S.L. (“Playa”, Spain) by way of purchase of shares.

2. The business activities of the undertakings concerned are:

- for MLLPHI: investment bank and advisor to corporations, governments, institutions and individuals worldwide. Management of financial assets.

- for Farallon: management of investment funds and accounts.

- for Barceló: operation of hotels, mainly found in cities and holiday resorts.

- for Playa: acquisition, development and redevelopment of all-inclusive resorts in Mexico, Central America, the Dominican Republic and other Caribbean countries.

3. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 and of paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No. 139/2004 [2].

4. For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EC) No. 139/2004.

For the Commission

signed

Philip LOWE

Director General

[1] OJ L 24, 29.1.2004 p. 1

[2] OJ C 56, 05.3.2005 p.32

--------------------------------------------------