Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229- 91111. Fax: +32 229- 64301. E -mail: COMP -MERG ER -REGISTRY@ec.europa.eu.  
  EUROPEAN COMMISSION  
Brussels, 15.4.2020 
C(2020)  2410 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M.9769 – VW G ROUP / MUNICH  RE G ROUP / JV 
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 16 March 2020, the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which MHP 
Management - und IT-Beratung GmbH (‘MHP’, Germany) , controlled by Dr. Ing. h.c. 
F. Porsche Aktiengesellschaft (‘Posche’, Germany) which is ultimately controlled by 
Volkswagen Group (‘VW’, Germany) and Münchener Rückversicherungs -
Gesellschaft Aktiengesellschaft  in München  (‘Munich RE’, Germany)  acquire within 
the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control o ver a 
newly created company constituting a joint venture (‘JV’, Germany) by way of 
purchase of shares in the JV .3 
2. The business activities o f the undertakings concerned are:  
− for MHP : a management and IT consulting company. Porsche and VW are active 
worldwide in the development, manufacture, marketing and sales of, inter alia, 
passenger cars, light commercial vehicles, trucks, buses, motor bikes as well as 
ancillary financial and insur ance services and mobility service solutions,  
− for Munich RE : an international insurance company.  
The JV will provide IT consulting services, including concept development, risk 
management, and software development, in relation to the planning, establishment and 
operation of digital and flexible production solutions. 
                                                 
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  OJ L 1, 3.1.1994, p . 3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 99, 26.3.2020 , p.7. 

 
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(a) 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 . 
For the Commission 
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .