# m8590.docx

| | EUROPEAN COMMISSION |
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EUROPEAN COMMISSION

Brussels, 6.10.2017

C(2017) 6879 final

PUBLIC VERSION

To the notifying parties

To the notifying parties

Subject:
     Case M.8590 – SOGECAP / CARDIF / DIVERSIPIERRE / HORIZON 

  Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004
  1
  and Article 57 of the Agreement on the European Economic Area
  2

Subject

:

.

8590

–

SOGECAP / CARDIF / DIVERSIPIERRE / HORIZON

Commission decision pursuant to Article 6(1

)(

b) of Council Regulation (EC)

No

139/2004

1

and Article 57 of the Agreement on the European Economic Area

2

Dear Sir or Madam,

Dear Sir or Madam,

1.On 6 September 2017, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which the undertakings Sogecap S.A. ('Sogecap', France), belonging to the group Société Générale, Cardif Assurance Vie S.A. ('Cardif', France) and Diversipierre Germany GmbH ('Diversipierre', Germany), both belonging to the group BNP Paribas, acquire within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of the undertaking Horizon Development GmbH ('Horizon', Germany), by way of purchase of shares
  3
  .

1.

On

6 September 2017

,

the

European

Commission received notification of a proposed concentration pursuant to Article 4 of

the

Merger

Regulation

,

by which

the undertakings

Sogecap

S.A. ('

Sogecap

'

, France), belonging to the group

Société

Généra

le

,

Cardif

Assurance Vie S.A. ('

Cardif

'

, France) a

nd

Diversipierre

Germany GmbH ('

Diversipierre

'

, Germany), both belonging to the group BNP Paribas, acquire within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of the underta

king Horizon Development GmbH ('Horizon'

, Germany), by way of purchase of shares

3

.

2.The business activities of the undertakings concerned are:

2.

The business activities of the undertakings concerned are:

—   for Sogecap: life-insurance company,

—

for Sogecap

: life-insurance company,

—   for Cardif: life-insurance company,

—

for Cardif

: life-insurance company,

—   for Diversipierre: real estate holding company,

—

for Diversipierre

: real estate holding company,

—   for Horizon: owner of an office building located in Düsseldorf, Germany, which is already leased to a third party.

—

for Horizon

: owner of an office building located in Düsseldorf, Germany, which is already leased to a third party.

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) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.
  4

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

)

of

the Commission Notice on a simplified procedure for treatment of certain concentrations under

Council Regulation (EC)

No

139/2004

.

4

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 and Article 57 of the EEA Agreement.

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

and Article 57 of the EEA Agreement

.

For the Commission

For the Commission

(Signed)

Johannes LAITENBERGER
  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.

OJ C 366, 14.12.2013, p. 5.