CELEX: 32020M9867
Language: en
Date: 2020-08-13 00:00:00
Title: Commission Decision of 13/08/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9867 - ALLIANZ / BBVA ALLIANZ SEGUROS Y REASEGUROS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 13.08.2020
                                                                C(2020) 5673 final
                                                                                 PUBLIC VERSION
                                                                To the notifying party
Subject:        Case M.9867 - ALLIANZ / BBVA ALLIANZ SEGUROS Y
                REASEGUROS
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 15 July 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Allianz SE
        (“Allianz”, Germany) acquires within the meaning of Article 3(1)(b) of the Merger
        Regulation sole control of the whole of BBVA Allianz Seguros y Reaseguros, S.A.
        (“BASR”, Spain). BASR is controlled by BBVA Seguros S.A., de Seguros y
        Reaseguros (“BBVA”, Spain). The concentration is accomplished by way of purchase
        of shares.3
2.      The business activities of the undertakings concerned are:
             for Allianz: The Allianz group is a global financial services provider active
              predominantly in relation to life and non-life insurance and asset management;
             for BASR: The non-life (and non-health) general insurance business of BBVA in
              Spain and the existing household insurance line of BBVA in Portugal.
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
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 243, 23.07.2020, p. 17.
4       OJ C 366, 14.12.2013, p. 5.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak--- 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)
                                                  Olivier GUERSENT
                                                  Director-General
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