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MERGERS: AMO SR approved the merger of Rockcastle Global Real Estate Company Ltd., New Europe Property Investments PLC a NEPI ROCKCASTLE PLC

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On 31 March 2017 the Antimonopoly Office of the Slovak Republic, the Division of Concentrations, (hereafter “the Office”) approved the merger grounded in merging of the undertakings Rockcastle Real Estate Company Ltd., Mauritius (hereafter “Rock”), New Europe Property Investments PLC, the Isle of Man (hereafter “Nepi”) and NEPI ROCKCASTLE PLC, the Isle of Man (hereafter “NepiRock”) that after the merger will become the legal successor of the undertakings.
The undertaking Rock is the ultimate parent holding company of the group Rock Group. It operates mainly in the area of commercial real estates, focusing inter alia on investment, development and rental of retail spaces in shopping centres in Poland and the Czech Republic. The group Rock Group is not active in Slovakia.
The undertaking Nepi is the ultimate parent holding company of the group NEPI, it operates as an investor and a developer in the area of commercial real estates. The undertaking Nepi invests in retail and office spaces in the region of Central and Eastern Europe, for instance in Romania and Slovakia. In Slovakia the group NEPI owns shopping centers Aupark Shopping Center Piešťany, Aupark Shopping Center Žilina, Korzo Shopping Center Prievidza, Aupark Shopping Center Košice and the administrative center Aupark Tower Košice.
The undertaking NepiRock is a newly established company without material business activity and was established in order to implement the merger.
After evaluating submitted documentation and information, the Office came to a conclusion that the assessed merger does not impede effective competition in the relevant market significantly, particularly as a result of creating or strengthening of a dominant position.
The decision came into force on 3 April 2017.