# C_2006051EN.01000401.xml

| 1.3.2006 | EN | Official Journal of the European Union | C 51/4 |
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1.3.2006

EN

Official Journal of the European Union

C 51/4

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Prior notification of a concentration

(Case COMP/M.3786 — BPI/Euler Hermes/COSEC)

(2006/C 51/04)

(Text with EEA relevance)

| 1. | On 22 February 2006, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Banco BPI S.A. (‘BPI’, Portugal) and Euler Hermes SFAC S.A. (‘EH SFAC’, France) controlled by the Allianz Group (‘Allianz’, Germany) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of Companhia de Seguro de Créditos, S.A. (‘COSEC’, Portugal) by way of purchase of shares. |
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1.

On 22 February 2006, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Banco BPI S.A. (‘BPI’, Portugal) and Euler Hermes SFAC S.A. (‘EH SFAC’, France) controlled by the Allianz Group (‘Allianz’, Germany) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of Companhia de Seguro de Créditos, S.A. (‘COSEC’, Portugal) by way of purchase of shares.

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| 2. | The business activities of the undertakings concerned are:






  — | for BPI: commercial banking, investment banking, life-capitalisation insurance; |
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2.

The business activities of the undertakings concerned are:

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for BPI: commercial banking, investment banking, life-capitalisation insurance;

| — | for EH SFAC: credit insurance business; |
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for EH SFAC: credit insurance business;

| — | for Allianz: insurance business; |
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for Allianz: insurance business;

| — | for COSEC: credit insurance business. |
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for COSEC: credit insurance business.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. |
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3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (No (32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.3786 — BPI/Euler Hermes/COSEC, to the following address:





  European Commission |
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| Competition DG |
| Merger Registry |
| J-70 |
| B-1049 Brussels |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (No (32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.3786 — BPI/Euler Hermes/COSEC, to the following address:

European Commission

Competition DG

Merger Registry

J-70

B-1049 Brussels

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(1)  OJ L 24, 29.1.2004, p. 1.

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