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Document 52018M8996

Prior notification of a concentration (Case M.8996 — GIC Group/FPL/JustGroup/JV) — Candidate case for simplified procedure (Text with EEA relevance.)

OJ C 243, 11.7.2018, p. 13–13 (BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)



Official Journal of the European Union

C 243/13

Prior notification of a concentration

(Case M.8996 — GIC Group/FPL/JustGroup/JV)

Candidate case for simplified procedure

(Text with EEA relevance)

(2018/C 243/08)


On 4 July 2018, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).

This notification concerns the following undertakings:

Reco Jedi Private Limited (‘Reco’, Singapore), controlled by GIC (Realty) Private Limited (‘GIC’, Singapore),

Frasers Property Ventures II Pte. Ltd. (‘FPV’, Singapore), controlled by Frasers Property Limited (‘FPL’, Singapore),

JustGroup Holdings Pte. Ltd. (‘JustGroup’, Singapore),

JustCo Holdings Pte. Ltd. (‘JustCo’, Singapore).

Reco, FPL and JustGroup acquire within the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation joint control of JustCo.

The concentration is accomplished by way of purchase of shares in a newly created company constituting a joint venture.


The business activities of the undertakings concerned are:

—   for GIC: GIC is the holding company for real estate investments made on behalf of the Government of Singapore,

—   for FPL: FPL owns, develops and manages a diverse, integrated portfolio of properties,

—   for JustGroup and JustCo: the development and management of co-working spaces.


On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.

Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.8996 — GIC Group/FPL/JustGroup/JV

Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:


Fax +32 22964301

Postal address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel


(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.