Mergers: EU Commission clears acquisition of control over IQSA Holdings by Blackstone
The European Commission has approved, under the EU Merger Regulation, the acquisition of control over IQSA Holdings S.à r.l. of the UK by The Blackstone Group Inc. (“Blackstone”) of the U.S. IQSA Holdings owns a portfolio of corporate purpose built student accommodation (‘Corporate PBSA’) throughout the UK, which operates as iQ Student Accommodation.
It also owns a private residential development in Sheffield, the Pendulum Hotel located in Manchester and ten development sites it intends to operate as Corporate PBSA schemes.
Blackstone is a global asset manager with a portfolio of assets including real estate assets located across Asia, Europe, South America and the US.The Commission concluded that the proposed acquisition would raise no competition concerns, because of its limited impact on the market. The transaction 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.9813.
Arianna Podesta – T Giulia Astuti –