M/10/022 – Mubadala / PIM Investment
Transaction details
The Competition Authority has cleared the proposed transaction whereby Mubadala Development Company PJSC (ﾓMubadalaﾔ) and Prudential Investment Management Inc. (trading as Pramerica Investment Management and Pramerica Real Estate Investors) (ﾓPIMﾔ), would create a 50:50 joint venture to be carried out by Mubadala-Pramerica Real Estate Investors (ﾓM-Pﾔ).
| Notification date | Decision date |
|---|---|
| Wednesday July 28, 2010 | Tuesday, August 24, 2010 |
| Parties Involved | Business activities |
|---|---|
| Mubadala Development Company PJSC | Mubadala is active in the State through SR Technics Airfoil Services Limited who provide high and low pressure turbine engine component repair services for blades and vanes on specific types of large commercial airline engines. It is also active in the State through SR Technics Aircraft Design Services Limited who provide aircraft design engineering services. |
| Pramerica Investment Management | Pramerica Systems Ireland Limited is a wholly-owned subsidiary of Pramerica Financial. It provides software, technology skills and customer support services to Pramerica Financial. |
| Economic sector | Media merger |
|---|---|
| The joint venture will be involved in the supply of investment products. | No |
| Submissions from third parties due by: | |
|---|---|
| Phase 1 | Phase 2 |
| Friday, August 6, 2010 | |
| Current status: Completed |
|---|
| Cleared (Phase 1) |
| Authorised Officer Assigned | Contact Details |
|---|---|
| Andrew Rae | Tel: 01-804 5420, email: ar@tca.ie |
Media enquiries: MKC Communications: 01 7038600
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