C 44/26
EN
Official Journal of the European Union
28.1.2022
V (Announcements)
PROCEDURES RELATING TO THE IMPLEMENTATION OF COMPETITION POLICY
EUROPEAN COMMISSION Prior notification of a concentration (Case M.10301 – CVC / ETHNIKI) (Text with EEA relevance)
(2022/C 44/11)
1.
On 20 January 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: — CVC Capital Partners SICAV FIS S.A. (‘CVC’, Luxemburg) — The Ethniki Hellenic General Insurance Company S.A. (‘Ethniki’, Greece) CVC acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of Ethniki.
The concentration is accomplished by way of purchase of shares.
2.
The business activities of the undertakings concerned:
— CVC, its subsidiaries and affiliated companies are privately owned entities whose activities include providing investment advice to and/or managing investments on behalf of certain investment funds and platforms.
One of CVC’s portfolio companies is the Hellenic Healthcare Group (‘HHG’), which operates six private hospitals in Greece. — Ethniki is a composite insurer predominantly focused on Greece, with limited activities in Cyprus and Romania.
Its activities include a range of life and non-life insurance products, insurance distribution and, to a de minimis extent, reinsurance.
The Target is currently owned by the National Bank of Greece and is being sold pursuant to the NBG’s restructuring plan entered into with the Commission. 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. 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.10301 – CVC / ETHNIKI (1) OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).