EU merger notification JLL/PIF/FMTECH simplified procedure

EC State Aid Cases

Published March 12th, 2026

Detected March 30th, 2026

Summary

The European Commission published a prior notification of a concentration in Case M.12358 involving JLL, PIF, and FMTECH. The transaction has been identified as a candidate for the simplified merger procedure, which applies to straightforward cases unlikely to raise competition concerns. This notice invites third parties with comparable interests to submit observations on the proposed concentration.

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What changed

The European Commission received a merger notification from JLL, PIF, and FMTECH (Case M.12358) and published it in the Official Journal. The case has been designated as a candidate for the simplified procedure, indicating the Commission views this as a straightforward concentration unlikely to raise competition concerns. The parties are JLL (real estate services), PIF (investment fund), and FMTECH (technology company).

Third parties with comparable interests may submit observations on the proposed concentration. Companies involved in similar transactions should note the simplified procedure pathway for straightforward mergers. No specific compliance deadlines or substantive obligations arise from this notification itself.

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Prior notification of a concentration (Case M.12358 – JLL / PIF / FMTECH) – Candidate case for simplified procedure

PUB/2026/269

OJ C, C/2026/1645, 12.3.2026, ELI: http://data.europa.eu/eli/C/2026/1645/oj (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

ELI: http://data.europa.eu/eli/C/2026/1645/oj

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| | Official Journal
of the European Union | EN

C series |

| | C/2026/1645 | 12.3.2026 |
Prior notification of a concentration

(Case M.12358 – JLL / PIF / FMTECH)

Candidate case for simplified procedure

(Text with EEA relevance)

(C/2026/1645)

On 4 March 2026, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1). This notification concerns the following undertakings:

| — | Jones Lang Lasalle Co-Investment, Inc. (‘JLL Co-Investment’, United States), controlled by Jones Lang LaSalle Incorporated group (‘JLL’, United States), |

| — | The Public Investment Fund (‘PIF’, Saudi Arabia), |

| — | The Saudi Facility Management Company (‘FMTech’, Saudi Arabia), controlled by PIF. |
JLL Co-Investment and PIF will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of FMTech.

The concentration is accomplished by way of purchase of shares.

The business activities of the undertakings concerned are the following:
| — | JLL Co-Investment focuses on investment management, offering services such as portfolio management and financial planning in the United States and globally. JLL is a global commercial real estate and investment management company, |

| — | PIF is the sovereign wealth fund of Saudi Arabia. It has investments in several sectors in Saudi Arabia and globally, including food and agriculture, energy, the financial sector, manufacturing, real estate, logistics and digital sectors. |
3.

The business activities of FMTech are the following: it is a facilities management company active in Saudi Arabia offering integrated facility management and consultancy services.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2), it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

The Commission invites interested third parties to submit their possible observations on the proposed concentration to the Commission. Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.12358 – JLL / PIF / FMTECH

Observations can be sent to the Commission by email or by post. Please use the contact details below:

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:

(2) OJ C 160, 5.5.2023, p. 1.

ELI: http://data.europa.eu/eli/C/2026/1645/oj

ISSN 1977-091X (electronic edition)

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