Mergers: Commission Approves Joint Acquisition of HDI Poland by Talanx and Meiji Yasuda Life Insurance
Targeted News Service |
The transaction concerns the Polish insurance market only. The Commission examined the competitive effects of the proposed acquisition in the markets for life and non-life insurance, where the parties' activities overlap. As the two parent companies are active on the market for reinsurance, the transaction would also create a vertical relationship.
The Commission found that the transaction would not raise competition concerns because of the parties' moderate combined market shares, the absence of market share increase resulting from the transaction and the presence of a sufficient number of strong competitors on the markets concerned.
The Commission last examined the affected markets in
As a result, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area1 (EEA) or any substantial part of it.
The transaction was notified to the Commission on
Companies and products
HDI Asekuracja S.A and HDI-Gerling Zycie S.A are Polish companies providing non-life insurance and life and reinsurance services, respectively.
Merger control rules and procedures
The Commission has the duty to assess mergers and acquisitions involving companies with a turnover above certain thresholds (see Article 1 of the Merger Regulation) and to prevent concentrations that would significantly impede effective competition in the EEA or any substantial part of it.
The vast majority of notified mergers do not pose competition problems and are cleared after a routine review. From the moment a transaction is notified, the Commission generally has a total of 25 working days to decide whether to grant approval (Phase I) or to start an in-depth investigation (Phase II).
More information on the case is available at:
http://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=2_M_6743
TNS-LE 121121-JF78-4114911 StaffFurigay
Copyright: | (c) 2012 Targeted News Service |
Wordcount: | 483 |
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