The European Commission has cleared plans by Brookfield Capital Partners Manager (Bermuda) Ltd and Lunate Capital Limited of the UAE to create a joint venture.
The deal mainly concerns residential real estate development projects in the Middle East, according to the Commission's release issued on Tuesday.
The Commission said it found the transaction would not raise competition concerns because it would have a limited impact on the European Economic Area — the EU plus Iceland, Liechtenstein and Norway.
Reviewed under simplified EU merger rules
The case was assessed under the EU Merger Regulation, which requires certain mergers and joint ventures to be notified to the Commission before completion.
The transaction was reviewed using the Commission’s simplified merger review procedure, and is listed in its public case register under case number M.12347.
