Prior notification of a concentration (Case M.10873 - SANLAM / ALLIANZ / SANLAM ALLIANZ AFRICA JV) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 381/06
Date: 2022-10-04
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, financial services, insurance, joint venture, merger control








C_2022381EN.01000701.xml










4.10.2022   


EN


Official Journal of the European Union


C 381/7






Prior notification of a concentration
(Case M.10873 - SANLAM / ALLIANZ / SANLAM ALLIANZ AFRICA JV)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 381/06)

1.   
On 27 September 2022, 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:






—


Sanlam Limited (‘Sanlam’, South Africa),










—


Allianz SE (‘Allianz’, Germany),










—


Sanlam Allianz Africa Proprietary Limited (‘Sanlam Allianz Africa’, South Africa), a newly created joint-venture.




Sanlam and Allianz will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control Sanlam Allianz Africa.
The concentration is accomplished by way of purchase of shares in a newly created company constituting a joint venture.


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






—


Sanlam is an international financial services group comprising several insurers, financial services providers and other financial institutions.










—


Allianz is a global integrated financial services group operating in life and non-life insurance and asset management products.






3.   

Sanlam Allianz Africa will operate as a pan-African life and general insurance joint venture between Sanlam and Allianz. Sanlam will contribute entities through which it carries out its insurance and asset management businesses in Angola, Benin, Botswana, Burkina Faso, Cameroon, Congo, Gabon, Ghana, Guinea, Ivory Coast, Kenya, Madagascar, Malawi, Mali, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Togo, Uganda and Zambia. Allianz will contribute entities through which it carries out insurance business in Burundi, Cameroon, Egypt, Ghana, Ivory Coast, Kenya, Madagascar, Mauritius, Morocco, Nigeria, Senegal, Tanzania and Uganda.



4.   
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.


5.   
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.10873 – SANLAM / ALLIANZ / SANLAM ALLIANZ AFRICA JV
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:
Email: 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.