On 9 April 2008, it has been published in the Official Journal of the European Union the Commission decision not to oppose the a new concentration of AXA Group in the Case COMP/M.5055 - Axa/Klepierre/Annecy Courier.

The European Commission (EC) declared On 13 March 2008, that this concentration is compatible with the EEA, it said in the European Economic Area, which includes the 27 EU countries as well as Iceland, Norway and Liechtenstein. The decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings know as the EC Merger Regulation.
 

• AXA Group is an important global player whose ambition is to attain leadership in its core Financial Protection business. AXA Real Estate IM (AXA REIM) with 500 staff based in 12 offices and operating in 19 countries, including Japan by opening an office in Tokyo in 2006 and also establishing a presence in Singapore. It is one of Europe's largest and most diversified real estate investment management businesses. Axa Group has been involved in other merger cases related to the following companies: BANCA MONTE DEI PASCHI DI SIENA, JV, GERFLOR, WINTERTHUR, CAMAIEU, BUTLER CAPITAL, CDC, FINAUTO, AUTODISTRIBUTION, FINELIST, ROYALE BELGE, UAP, CDC and Hotels ACCOR, GRE.
   
• Klépierre is a real estate specialist focused on the two most profitable segments of the commercial property market. It has a workforce of 1,103 people, Klépierre leases and manages the real estate assets in its portfolio as well as on behalf of third parties. At December 31, 2007, it owned real estate assets valued at 11.3 billion euros. It has been involved in other case with FINIPER, IGC on Jul 2002 in the Merger Case 2887

• Annecy Courier is a commercial center localted in Annecy with about 19,000 m², filiale de Klépierre.

The information on this news is non-binding and cannot be used as a guide to the Commission’s position, or companies’s obligations. The only such binding elements are formal Commission Decisions themselves.