CELEX: 32014M7462
Language: en
Date: 2014-12-17 00:00:00
Title: Commission Decision of 17/12/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7462 - APOLLO MANAGEMENT / CARIGE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 17.12.2014
                                        C(2014) 10133 final

                                        [pic][pic]

|To the notifying party:                                                |                                                                       |
|                                                                       |                                                                       |

Dear Madam(s) and/or Sir(s),

Subject:    Case M.7462 - APOLLO MANAGEMENT/ CARIGE
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

 1. On 24.11.2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger  Regulation  by
    which investment funds managed by affiliates of Apollo Management L.P. (“Apollo”, United States), acquire  within  the  meaning  of  Article
    3(1)(b) of the Merger Regulation sole control of Carige Vita Nuova S.p.A. (Italy) and of Carige R.D. Assicurazioni e Riassicurazioni  S.p.A.
    (Italy) and their affiliates (together “Carige”) by way of purchase of shares.[2]

 2. The business activities of the undertakings concerned are:

    -      Apollo invests in companies and debt issued by companies involved in various businesses throughout the  world.  Examples  of  current
      investments include, inter alia, companies in the chemical, cruise line, logistics, paper, and metals businesses;

    - Carige provides insurance products and services, both in the life and non-life insurance segments. The company is based in  Italy  and  it
      operates only in Italy.

 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.[3]

 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.

                                        For the Commission
                                        (Signed)
                                        Alexander ITALIANER
                                        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]   Publication in the Official Journal of the European Union No C 429, 29.11.2014, p. 7.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE