PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
CCENT/2007/73 - SONAE SIERRA/GAIASHOPPING I/GAIASHOPPING II/ARRABIDASHOPPING
Acquired
Arrabidashopping
Description
Portuguese-registered companies, at present controlled by Sonae Sierra and CNP Assurances, whose main activity consists of providing third parties with premises for trading, catering, leisure and similar activities in the Greater Oporto region.
Acquired
Gaiashopping
Description
Portuguese-registered companies, at present controlled by Sonae Sierra and CNP Assurances, whose main activity consists of providing third parties with premises for trading, catering, leisure and similar activities in the Greater Oporto region.
Acquiring
Sonae Sierra
Description
a company under Portuguese law, jointly controlled by Sonae SGPS, SA ("Sonae") and Grosvenor Investments S.a.r.l. ("Grosvenor"), which is active in the property sector, in particular in the operation of assets involving shopping centres; it is structured into three independent businesses: shopping centre investment, promotion and management. Sonae and Grosvenor are the holding companies of the respective groups. Through their subsidiaries, they are active in various sectors of activity, in particular property.
Sector
  • Liberal Professions
  • Trade and Services
Activity (NACE)
  • L68 - Real estate activities
Applicable legislation
Art. 9(1)(a) and (b) (Law 18)
Notification thresholds
Turnover and market share
Type of merger
Horizontal
Cooperation with sector regulators
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Case description
Notified on 17 October 2007, the present merger consists of the acquisition, by Sonae Sierra, SGPS, SA ("Sonae Sierra"), of exclusive control of the companies Gaiashopping I - Centro Comercial SA ("Gaiashopping") and Arrabidashopping - Centro Comercial SA ("Arrabidashopping"), through the acquisition of a 50% shareholding in these companie´s registered capital, a holding at present owned directly and indirectly by CNP Assurances.
Timeline
2007-11-30
COMPETITION AUTHORITY approves acquisition, by Sonae Sierra, SGPS, SA, of exclusive control of the companies Gaiashopping I - Centro Comercial SA and Arrabidashopping - Centro Comercial SA, whose main activity consists of providing third parties with premises for trading and catering, leisure and similar activities in the Greater Oporto Region
2007-10-25
Publication of the announcement
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