Prior notification of a concentration (Case M.12022 – ARDIAN / BURRUS GROUP / DIOT SIACI GROUP) – Candidate case for simplified procedure
Date: 2025-08-19
Institutions: Directorate-General for Competition, European Commission
Subjects: consultancy, economic concentration, financial services, insurance, investment company, merger control, provision of services








C_202504669EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2025/4669


19.8.2025






Prior notification of a concentration
(Case M.12022 – ARDIAN / BURRUS GROUP / DIOT SIACI GROUP)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2025/4669)


1.   
On 6 August 2025, 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:






—


Ardian France SA (‘Ardian’, France), controlled by Ardian Holding SAS,










—


Mr Christian Burrus through the undertakings under his control (‘Burrus Group’, France),










—


The Diot-Siaci Group, jointly controlled by the Ontario Teachers’ Pension Plan and the Burrus Group.




Ardian and the Burrus Group will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of the Diot-Siaci Group.
The concentration is accomplished by way of purchase of shares.


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






—


Ardian is a private equity firm that manages and/or advises, through its subsidiaries, a number of investment funds,










—


The Burrus Group operates in insurance solutions, financial technology, financial management and consulting.






3.   

The business activities of the Diot-Siaci Group are the following: insurance and reinsurance brokerage, contract management services for insurers and reinsurers, management consulting, consulting on retirement benefits, permanent recruitment and management.



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 treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (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.12022 – ARDIAN / BURRUS GROUP / DIOT SIACI GROUP
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu

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 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2025/4669/oj
ISSN 1977-091X (electronic edition)