32002M2800

Commission Decision of 03/05/2002 declaring a concentration to be compatible with the common market (Case No IV/M.2800 - BRACK CAPITAL / HASLEMERE) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

Brussels, 03/05/2002

SG (2002) D/229668/229669/229670

To the notifying parties

Dear Sirs,

Subject: Case No. COMP/M.2800 - BRACK CAPITAL / HASLEMERE

Notification of 27/03/2002 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 [1] Publication in the Official Journal of the European Communities No. C 90, 16/4/2002 page 2.

[1] OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17.

1. On 27/03/2002, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 by which Brack Capital Real Estate Ltd (Israel), belonging to the Brack Capital Group ("Brack Capital"), Apollo International S.a.r.l. (Luxembourg) ("Apollo"), and Merril Lynch IBK, belonging to Merril Lynch Inc. (United States) ("Merril Lynch"), acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking Haslemere N.V. (the Netherlands) ("Haslemere") by way of public bid announced on 28/3/2002.

2. The business activities of the undertakings concerned are :

- for undertaking Brack Capital: real estate activities, investment and incubation in high technology.

- for undertaking Apollo International S.a.r.l.: operation of investment funds investing in real estate and industrial companies.

- for undertaking Merril Lynch Inc.: global investment banking services.

- for undertaking Haslemere N.V.: project development and holding of properties.

3. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No. 4064/89 and of paragraph 4, subparagraph c of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No 4064/89 [2].

[2] OJ C 217, 29.07.2000, p. 32.

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 (EEC) No. 4064/89.

For the Commission

Signed by Mario MONTI Member of the Commission