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Daily News of 2014-02-25

European Commission - MEX/14/0225   25/02/2014

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EXME 14 / 25.02


25 / 02 / 14

Winter Economic Forecast

Today the Commission will publish its winter economic forecast for 2013-2014-2015 covering Gross Domestic Product (GDP), inflation, employment and public budget deficits and debt, amongst others. These forecasts focus on all 28 EU Member States, plus the candidate countries as well as some non-EU countries. A press conference by Vice-President Rehn will take place at 13h45 in the European Parliament Press Room in Strasbourg. The press release (IP/14/188) and document will be available at the beginning of the press conference.

President Barroso participates in formal inauguration of high-level group on own resources

The High Level Group on own resources will be formally established today by President Barroso, European Parliament President Martin Schulz and Greek Prime Minister Antonis Samaras (representing the Council) in Strasbourg. The group will be chaired by former Italian Prime minister and EU Commissioner Mario Monti. Other members will be appointed by the European Commission, European Parliament and the Council. The group has been tasked with studying the current system of income to the EU budget and suggesting possible improvements to it, as agreed by the institutions during negotiations on the EU's seven-year budget, the multiannual financial framework 2014-20. President Barroso, President Schulz, Prime Minister Samaras and Mr Monti will hold an inaugural meeting at 15.30, followed by a press point at 16.00 in Strasbourg. The press point will be broadcast live on EbS and press material will be available online after 16.00.

Other news

Mergers: Commission sends warning to Munksjö and Ahlstrom for providing misleading information in a merger case

The European Commission has sent a Statement of Objections (SO) to Ahlstrom Corporation, Munksjö Oyj, both of Finland, and Munksjö AB of Sweden. In October 2012 Ahlstrom and Munksjö, both producers of speciality papers, had notified the Commission of plans to combine their activities in the production of abrasive paper backings. The Commission takes the preliminary view, that the parties provided misleading information with regard to the market for abrasive paper backings. Such behaviour, if established, would be in breach of the companies' obligation to include their true best estimates of the markets in question in the notification and could result in a fine of up to 1% of turnover. The sending of a Statement of Objections does not prejudge the final outcome of the investigation.

Mergers: Commission clears acquisition of joint control over Parque Principado by CPPIB and Intu

The European Commission has cleared under the EU Merger Regulation the acquisition of joint control over the Luxemburg based company Parque Principado by the Canada Pension Plan Investment Board ("CPPIB") of Canada together with current parent Intu Properties Plc ("Intu") of the UK. CPPIB is a professional investment management organisation that invests the assets of the Canada Pension Plan in public equities, private equities, real estate, infrastructure and fixed income investments. Intu is a real estate investment trust largely focused on shopping centre ownership, management and development across the UK. Parque Principado operates commercial real estate in Spain through the ownership of the 'Parque Principado Shopping Centre' and a second property also located within the Parque Principado complex, namely the Eroski Unit in Oviedo. The Commission assessed the effects of the proposed transaction on the markets for real estate and concluded that the transaction would not raise competition concerns given the limited market shares of the merged entity. The operation was examined under the simplified merger review procedure. More information is available on the Commission's competition website in the public case register under the case number M.7124 .

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