CELEX: 32020M9889
Language: en
Date: 2020-07-31 00:00:00
Title: Commission Decision of 31/07/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9889 - ERGO / SDHS / TAISHAN PROPERTY & CASUALTY INSURANCE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 31.7.2020
                                                                C(2020) 5403 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9889 – ERGO / SDHS / TAISHAN PROPERTY & CASUALTY
                INSURANCE
                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 8 July 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which ERGO
        Versicherung          AG       (“ERGO”)         (Germany),       controlled       by  Münchener
        Rückversicherungs-Gesellschaft Aktiengesellschaft in München (“Munich RE”)
        (Germany), and Shandong Hi-Speed Group Corporation (“SDHS”) (China), a Chinese
        state-owned enterprise solely controlled by Shandong Provincial State-owned Assets
        Supervision and Administration Commission (“Shandong SASAC”) (China), acquire
        within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control
        of Taishan Property & Casualty Insurance Co., Ltd (“TSIC”) (China), solely
        controlled by Shandong SASAC, via SDHS by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for ERGO: the provision of insurance services. ERGO is a wholly owned
              subsidiary of Munich RE, which is an international insurance company,
             for SDHS: investment, construction and operation of highways, expressways,
              bridges, railways, rail transits, harbours, shipping and logistics,
             for TSIC: the provision of insurance services in China.
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 233, 15.7.2020, p. 6.
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--- 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(a) 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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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