01/08/2011 (Agence Europe) - Mergers: Blackstone/Valad. On Monday 1st August, the European Commission authorised the purchase, by the American investment fund The Blackstone Group LP, of Valad Funds Management Limited and Valad Property Trust, which together make up the Australian real estate investment group Valad Property. This company owns and manages real estate and hotels in a number of European countries, including some member states of the EU, and Blackstone specialises in asset management and owns a controlling stake in Hilton Hotels Corporation, which manages hotels under the same name. The activities of the parties do not overlap significantly on the markets on which they are active and the vertical links between them are minor. The operation was examined under the simplified merger control procedure. (F.G./transl.fl)