Document ID: 32014M7262
Language: ENG

Important legal notice
| 32014M7262
Commission Decision of 25/06/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7262 - AGEAS / OCIDENTAL SEGUROS / MEDIS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)
|EUROPEAN COMMISSION |
Brussels, 25.06.2014
PUBLIC VERSION C(2014) 4427 final
SIMPLIFIED MERGER PROCEDURE
To the notifying party: | |
Dear Madam(s) and/or Sir(s),
Subject: Case M.7262 - AGEAS / OCIDENTAL SEGUROS / MEDIS Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 [1]
1. On 26.05.2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking Ageas Insurance International N.V. ('Ageas', the Netherlands), a company belonging to the international group Ageas S.A., acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of Companhia Portuguesa de Seguros S.A. ('Ocidental Seguros', Portugal) and of Companhia Portuguesa de Seguros de Saude S.A. ('Médis', Portugal) by way of purchase of shares.
2. The business activities of the undertakings concerned are:
- for Ageas : provision of life and non-life insurance services to personal, business and institutional customers.
- for Médis and Ocidental Seguros: provision of non-life insurance services [2] .
3. 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(c) and 5(d) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 [3] .
4. For the reasons set out in the Notice on a simplified procedure, 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.
For the Commission
(Signed)
Alexander ITALIANER Director General
[1]OJ L 24, 29.1.2004, p. 1 ("the Merger Regulation"). With effect from 1 December 2009, the Treaty 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.
[2] Publication in the Official Journal of the European Union No C 167, 04.06.2014, p. 15.
[3] OJ C 366, 14.12.2013, p. 5.