CELEX: 32014M7389
Language: en
Date: 2014-11-19 00:00:00
Title: Commission Decision of 19/11/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7389 - AEGON SPAIN / SANTANDER TOTTA SEGUROS / AEGON SANTANDER VIDA / AEGON SANTANDER NÃO VIDA) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 19.11.2014
                                        C(2014) 8857 final

                                        [pic]

|To the notifying parties:                                              |                                                                       |

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

Subject:    Case M.7389 - AEGON SPAIN / SANTANDER TOTTA SEGUROS / AEGON SANTANDER VIDA / AEGON SANTANDER NÃO VIDA

         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

1. On 27.10.2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of  the  Merger  Regulation  by
  which the undertakings  Aegon Spain Holding B.V. ('Aegon Spain', Spain),  fully owned by the Aegon  Group  ("Aegon",  the  Netherlands),   and
  Santander Totta Seguros ("Santander Totta Seguros", Portugal), fully owned by the  Santander Group ("Santander", Spain)  will  acquire  within
  the meaning of Article 3(1)(b) of the Merger Regulation joint control over Aegon Santander Portugal Vida - Companhia de Seguros de Vida,  S.A.
  ('Aegon Santander Portugal Vida', Portugal)  and Aegon Santander Portugal Não Vida- Companhia de  Seguros  de  Vida,  S.A.  ('Aegon  Santander
  Portugal Não Vida', Portugal) by way of purchase of shares in two newly created companies constituting a joint venture.[2]

 2. The business activities of the undertakings concerned are:

         – Aegon Group: provision of  asset management, insurance, pension and related products world-wide, mainly in  the  United  States,  the
           Netherlands and the United Kingdom;

         – Aegon Spain : pension of life and non-life insurance and pension products in Spain;

         – Santander: international group of banking and financial companies operating in Spain, the UK and certain  other  European  countries,
           as well as in North and South America;

         – Santander Totta Seguros: provision of life and non-life insurance in Portugal;

         – Aegon Santander Portugal Vida: provision of life insurance;

         – Aegon Santander Portugal Não Vida: provision non-life insurance.

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 387, 1.11.2014, p. 6.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE