CELEX: 32015M7768
Language: en
Date: 2015-10-07 00:00:00
Title: Commission Decision of 07/10/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7768 - EXOR / PARTNERRE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 7.10.2015
                                        C(2015) 6952 final

                                        [pic]

|To the notifying party                                                 |                                                                       |
|                                                                       |                                                                       |

Dear Sirs,

Subject:    Case M.7768 - EXOR/ PARTNERRE
         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 11 September 2015 the European Commission received notification of  a  proposed  concentration  pursuant  to  Article  4  of  the  Merger
    Regulation by which Exor S.p.A. ("Exor", Italy) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole
    of PartnerRe Ltd ("PernterRe", Bermuda) by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

        – for Exor: a company listed on the Borsa Italiana Stock Exchange, focusing its  activities  in  long-term  investments  in  diversified
          sectors, among which the automotive business, where it controls Fiat Chrysler Automobiles N.V. and CNH Industrial N.V and to a limited
          extent in the non-life insurance business, in the EEA and the USA;

        – for PartnerRe: company listed on the New York Stock Exchange, predominantly providing reinsurance and, to a  limited  extent,  certain
          specialty insurance lines such as aviation and space,  energy,  engineering,  marine,  specialty  casualty,  and  specialty  property,
          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) 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 310, 19.09.2015, p. 6.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE