Prior notification of a concentration (Case M.8794 — Euler Hermes/Mapfre/Solunion) — Candidate case for simplified procedure (Text with EEA relevance. )
Date: 2018-01-26
Institutions: European Commission
Subjects: banking, economic concentration, insurance company, merger control, reinsurance








C_2018029EN.01000701.xml










26.1.2018   


EN


Official Journal of the European Union


C 29/7





Prior notification of a concentration
(Case M.8794 — Euler Hermes/Mapfre/Solunion)
Candidate case for simplified procedure
(Text with EEA relevance)
(2018/C 29/06)






1.


On 18 January 2018, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Mapfre S.A. (‘Mapfre’, Spain),










—


Euler Hermes Group SA (‘Euler Hermes’, France), ultimately controlled by Allianz Group (‘Allianz’, Germany),










—


Solunion Seguros, Compañía Internacional de Seguros y Reaseguros, SA (‘Solunion’, Spain), a joint venture between Mapfre and Euler Hermes.




Mapfre and Euler Hermes enlarge the scope of the activities of the joint venture Solunion. In the present case, this is considered as a creation of a new joint venture within the meaning of Article 3(1)(b) and Article 3(4) of the Merger Regulation.
The concentration is accomplished by way of transfer of assets.










2.


The business activities of the undertakings concerned are:
—   for Mapfre: an international business group, active in insurance and reinsurance activities worldwide,
—   for Euler Hermes: an international business group, mainly active in the commercialisation of trade credit insurance, bonding, guarantees and collections worldwide,
—   for Allianz: an international business group, active in the insurance, banking and asset management sectors worldwide,
—   for Solunion: a joint-venture currently active in the provision of del credere insurance in Spain and certain countries in Latin America.










3.


On preliminary examination, the 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 Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.










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. The following reference should always be specified:
M.8794 — Euler Hermes/Mapfre/Solunion
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:





E-mail:




COMP-MERGER-REGISTRY@ec.europa.eu




Fax




+32 22964301




Postal 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.