PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
Ccent/2022/57 - Mubadala*King Street / JVCo
Acquiring
King Street Capital Management, L.P.
Description
Global alternative investment management company. In Portugal it is active in the acquisition and management of real estate for non-residential purposes.
Acquiring
Mubadala Investment Company PJSC
Description
Public limited company listed on the Abu Dhabi stock exchange, which invests globally and manages a diversified portfolio of companies, in priority sectors such as aerospace, ICT, semiconductors, metals and mining, renewable energies, oil and gas, petrochemicals, utilities, healthcare, real estate , defense services, pharmaceutical and medical technologies, agribusiness and a global portfolio of financial holdings. In Portugal it is active in the acquisition and management of real estate for non-residential purposes.
Acquired
Olivine Phlox Investments Holdings S.à.r.l.
Description
Entity recently created with the aim of carrying out the activities of acquisition, ownership, development, sale, management and operation of a portfolio of student housing assets located in the main university cities, mainly in Spain and Portugal.
Sector
Activity (NACE)
Applicable legislation
Art. 37(1)(c) (Law 19)
Notification thresholds
Turnover threshold
Type of merger
Conglomerate
Cooperation with sector regulators
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Non-opposition
Case description

The merger consists of the acquisition by Mubadala Investment Company PJSC ("Mubadala") and King Street Capital Management, L.P. ("King Street"), of an entity (the "Co-Investment Vehicle"), which will indirectly hold a platform for the acquisition and development of student housing projects in Spain and Portugal. This platform will be developed through a special purpose vehicle (Special Purpose Vehicle, "SPV") Olivine Phlox Investments Holdings S.à.r.l. (the "JVCo").
Timeline
2023-01-04
The AdC issued a non-opposition decision to the merger 57/2022 - Mubadala*King.
2022-11-24
Mubadala Investment and King Street give notice of acquisition of Olivine Phlox Investments.
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