CELEX: 32019M9350
Language: en
Date: 2019-06-12 00:00:00
Title: Commission Decision of 12/06/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9350 - Santander Group / Mapfre Group) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 12.6.2019
                                                                C(2019) 4471 final
                                                                                      PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9350 - SANTANDER GROUP / MAPFRE GROUP / JV
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                             2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 15 May 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Banco Santander,
        S.A., and subsidiaries (“Santander Group”, Spain) and Mapfre, S.A., and subsidiaries
        (“Mapfre Group”, Spain) acquire within the meaning of Article 3(1)(b) and 3(4) of the
        Merger Regulation joint control of a Santander Global Seguros y Reaseguros, S.A.U. (a
        newly created “JV”, Spain) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             Santander Group, which is active in retail banking, corporate banking, investment
              banking, asset management and treasury across Europe, the United States, Latin
              America and Asia.
             Mapfre Group, which is active in insurance and reinsurance provision and distribution
              across 45 countries.
             the JV, which is intended to be active on the market for the provision of certain
              categories of non-life insurance, mainly to commercial entities and small and medium-
              sized enterprises, in Spain.
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
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 176, 22.5.2019, p. 29.
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---    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
4  OJ C 366, 14.12.2013, p. 5.
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