CELEX: 32016M8028
Language: en
Date: 2016-05-27 00:00:00
Title: Commission Decision of 27/05/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.8028 - FAIRFAX FINANCIAL HOLDINGS / OPG COMMERCIAL HOLDINGS / EUROLIFE ERB INSURANCE GROUP HOLDING) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 27.5.2016
                                        C(2016) 3348 final

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|                                                                       |To the notifying parties:                                              |

Dear Sirs,

Subject:    Case M.8028 – FAIRFAX  FINANCIAL HOLDINGS / OPG COMMERCIAL HOLDINGS / EUROLIFE ERB INSURANCE GROUP HOLDING
         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 29 April 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation
    by which Fairfax Financial Holdings Limited (“Fairfax”, Canada) and OPG Commercial Holdings S.à r.l. (“OPG”), belonging to the  OMERS  Group
    ("OMERS", Canada), acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control  of  Eurolife  ERB  Insurance  Group
    Holdings S.A. (Greece) by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

      -     for Fairfax: through its subsidiaries, it is engaged in property and casualty insurance,  as   well  as  reinsurance  and  investment
           management. Fairfax is listed on the Toronto Stock Exchange.

      -     for OPG: is a Luxembourg-incorporated holding company part of Ontario Municipal Employees  Retirement  System  Primary  Pension  Plan
           (OMERS).

      -     for Eurolife: through its subsidiaries, it is engaged in life, non-life insurance, reinsurance and insurance distribution  in  Greece
           and Romania.

 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) 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 167, 11.05.2016, p. 20.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE