CELEX: 32015M7757
Language: en
Date: 2015-10-28 00:00:00
Title: Commission Decision of 28/10/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7757 - AXA / GENWORTH LPI) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 28.10.2015
                                        C(2015) 7630 final

                                        [pic]

|To the notifying party:                                                |
|                                                                       |

Dear Sirs,

Subject:    Case M.7757 - AXA/ GENWORTH LPI
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 5 October 2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation
    by which AXA S.A. ("AXA", France) acquires within the meaning of Article 3(1) (b) of the  Merger  Regulation  parts  of  Genworth  Financial
    Inc.'s insurance business, by way of purchase of shares, in Genworth Financial European  Group  Holdings  Limited  ("Genworth  Topco",  UK),
    Financial Insurance Guernsey PCC Limited ("FIG PCC", Guernsey), Genworth Consulting Services  (Beijing)  Limited,  ("GCS  Beijing",  China),
    Genworth General Services Asia Limited ("GGS Asia", Hong Kong) and CFI Administrators Limited  (Ireland),  referred  together  as  "Genworth
    LPI".[3]

 2. The business activities of the undertakings concerned are:

      – for Axa: the provision of life, non-life insurance, reinsurance and asset management services globally;

      – for Genworth LPI: the provision of life, non-life insurance, and reinsurance services globally.

 3. After examination of the notification, the European Commission has concluded that the notified operation  falls  within  the  scope  of  the
    Merger Regulation and of paragraph 5(c) and paragraph 6 of the Commission  Notice  on  a  simplified  procedure  for  treatment  of  certain
    concentrations under Council Regulation (EC) No 139/2004.[4]

 4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose  the  notified  operation
    and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b)
    of the Merger Regulation and Article 57 of the EEA Agreement.

                                        For the Commission
                                        (Signed)
                                        Johannes LAITENBERGER
                                        Director-General

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[1]   OJ L 24, 29.1.2004, p. 1 (the "Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the  European  Union
    ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market"  by  "internal  market".  The
    terminology of the TFEU will be used throughout this decision.

[2]   OJ L 1, 3.1.1994, p. 3 ("the EEA Agreement").

[3]   Publication in the Official Journal of the European Union No C 336, 10.10.2015, p. 4.

[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE