Sirius Brookfield Paradise JV Merger Clearance Article 6(1)(b) Decision
Summary
The European Commission issued a decision under Article 6(1)(b) of Council Regulation (EC) No 139/2004 not to oppose the acquisition of joint control over BREF Paradise JV L.P. by Brookfield Asset Management Ltd. and Sirius Holdings Limited. The transaction was processed under the simplified procedure for concentrations. The Commission declared the operation compatible with the internal market and with the Agreement on the European Economic Area.
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What changed
The European Commission reviewed the proposed acquisition by Brookfield Asset Management Ltd. and Sirius Holdings Limited of joint control over BREF Paradise JV L.P. under Council Regulation (EC) No 139/2004. The Commission determined the operation fell within the scope of the Merger Regulation and qualified for simplified treatment under the Commission Notice on simplified procedures. A decision not to oppose was adopted under Article 6(1)(b), declaring the operation compatible with the internal market and EEA Agreement.
Parties to EU-notifiable concentrations should ensure proper notification procedures are followed and clearance obtained prior to completing transactions meeting the EU turnover thresholds. The use of simplified procedure indicates no competitive concerns were identified by the Commission during its review.
Archived snapshot
Apr 22, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Case M.12345 - SIRIUS / BROOKFIELD /
PARADISE JV
Only the English text is available and authentic. REGULATION (EC) No 139/2004
MERGER PROCEDURE
Article 6(1)(b)
Date: 20/04/2026
In electronic form on the EUR-Lex website under document number 32026M12345
EUROPEAN COMMISSION
DG Competition
Brussels, 20.4.2026 C(2026) 2694 final
PUBLIC VERSION
Brookfield Asset Management Ltd. 1500 Royal Centre, 1055 West Georgia Street, P.O. BOX 11117 Vancouver, BC V6E 4N7 Canada Sirius Holdings Limited 67 Brook St London, W1K 4NJ United Kingdom
Subject: Case M.12345 - SIRIUS / BROOKFIELD / PARADISE JV Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 ( ) and Article 57 of the Agreement on the European 1 Economic Area ( ) 2
Dear Sir or Madam, (1) On 23 March 2026, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which the undertakings Brookfield Corporation ('Brookfield', Canada) and Sirius Holdings Limited ('Sirius', Cayman Islands), ultimately controlled by Sheikh Hamad bin Jassim Al Thani (Qatar) will acquire, within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation, joint control over the whole of the undertaking BREF Paradise JV L.P. ('Paradise JV', Cayman Islands), currently ultimately controlled by Brookfield, by way of purchase of securities. ( ) 3 (2) The business activities of the undertakings concerned are the following: - Brookfield is a global investment firm. Its investments focus mainly on renewable power and transition, infrastructure, private equity and real estate
() OJ L 24, 29.1.2004, p. 1 (the 'Merger Regulation'). With effect from 1 December 2009, the Treaty 1 on the Functioning of the European Union ('TFEU') has introduced certain changes, such as the replacement of 'Community' by 'Union' and 'common market' by 'internal market'. The terminology of the TFEU will be used throughout this decision. () OJ L 1, 3.1.1994, p. 3 (the 'EEA Agreement'). 2 () OJ C, C/2026/1986, 1.4.2026. 3
EUROPEAN COMMISSION
as well as corporate credit, real assets and listed equities and aviation leasing and specialty finance, - Sirius is controlled by Sheik Hamad bin Jassim Al Thani, who owns interests in various businesses in Qatar and abroad, including in the hospitality real estate sector and in various regulated financial services firms. (3) Paradise JV owns and operates a resort known as the 'Atlantis' resort in Paradise Island, located in the Bahamas. (4) After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(a) of the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004. ( ) 4 (5) For the reasons set out in the Notice on a simplified treatment, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.
For the Commission
(Signed)
Anthony WHELAN
Director-General Directorate-General for Competition
() OJ C 160, 5.5.2023, p. 1 (the 'Notice on a simplified treatment'). 4
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