Case details

Merger control

Case reference

CCENT/2006/1 - SONAE SGPS/GROSVENOR INVESTMENTS (PORTUGAL)

Acquiring

Grosvenor Investments Portugal

Description

A multinational group of undertakings, head-quartered in Luxembourg, with activities in the areas of property development and investment, in particular in Europe, the United States and Canada, Asia, Australia and the Pacific.

Acquired

Sonae Sierra

Description

A sub-holding company of the Sonae Group, wholly controlled by the latter. Within this group, it operates in the property sector, on the basis of a structure of three independent businesses: investment, promotion and management of shopping malls.

Sector

Liberal Professions
Trade and Services

Activity (NACE)

L68 - Real estate activities

Applicable legislation

Inapplicability (Law 18)

Notification thresholds

Inapplicability (Law 18)

Type of merger

Horizontal

Cooperation with sector regulators

Status

Closed

Type of Investigation

Phase 1

AdC’s decision

Case description

Notified on 4 January 2006, this merger consists of the acquisition by Grosvenor Investments (Portugal) SARL (GROSVENOR), from Sonae SGPS, SA (SONAE), of joint control of the latter´s subsidiary, Sonae Sierra SGPS, SA (SONAE SIERRA).

Timeline

2006-02-14

Competition Authority issues a ruling of non-applicability in the case of notified merger No. 1/2006 - GROSVENOR / SONAE / SONAE SIERRA, on the grounds that none of the notification criteria provided for in Article 9 (1) of the Competition Law is fulfilled

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Case details