Prior notification of a concentration (Case M.7389 — Aegon Spain/Santander Totta Seguros/Aegon Santander Vida/Aegon Santander Não Vida) — Candidate case for simplified procedure  Text with EEA relevance
Date: 2014-11-01
Institutions: European Commission
Subjects: Netherlands, Portugal, South America, Spain, United Kingdom, United States, economic concentration, financial services, insurance company, life assurance, merger control








C_2014387EN.01000601.xml










1.11.2014   


EN


Official Journal of the European Union


C 387/6





Prior notification of a concentration
(Case M.7389 — Aegon Spain/Santander Totta Seguros/Aegon Santander Vida/Aegon Santander Não Vida)
Candidate case for simplified procedure
(Text with EEA relevance)
(2014/C 387/06)






1.


On 27 October 2014, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Aegon Spain Holding B.V. (‘Aegon Spain’, Spain), fully owned by the Aegon Group (‘Aegon’, the Netherlands), and Santander Totta Seguros (‘Santander Totta Seguros’, Portugal), fully owned by the Santander Group (‘Santander’, Spain) will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control over Aegon Santander Portugal Vida — Companhia de Seguros de Vida, S.A. (‘Aegon Santander Portugal Vida’, Portugal) and Aegon Santander Portugal Não Vida — Companhia de Seguros de Vida, S.A. (‘Aegon Santander Portugal Não Vida’, Portugal) by way of purchase of shares in two newly created companies constituting a joint venture.










2.


The business activities of the undertakings concerned are:
—   Aegon Group: provision of asset management, insurance, pension and related products worldwide, mainly in the United States, the Netherlands and the United Kingdom,
—   Aegon Spain: production of life and non-life insurance and pension products in Spain,
—   Santander Group: international group of banking and financial companies operating in Spain, the UK and certain other European countries, as well as in North and South America,
—   Santander Totta Seguros: provision of life and non-life insurance in Portugal,
—   Aegon Santander Portugal Vida: provision of life insurance,
—   Aegon Santander Portugal Não Vida: provision non-life insurance.










3.


On preliminary examination, the European Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Merger Regulation (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.










4.


The European Commission invites interested third parties to submit their possible observations on the proposed operation to the European Commission.
Observations must reach the European Commission not later than 10 days following the date of this publication. Observations can be sent to the European Commission by fax (+32 22964301), by e-mail to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number M.7389 — Aegon Spain/Santander Totta Seguros/Aegon Santander Vida/Aegon Santander Não Vida, to the following address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË










(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.