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
  • Others
Activity (NACE)
  • L68 - Real estate activities
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
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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