CELEX: 32011M6181
Language: en
Date: 2011-06-27 00:00:00
Title: Commission Decision of 27/06/2011 declaring a concentration to be compatible with the common market (Case No COMP/M.6181 - SEB TRYGG LIV HOLDING / IRISH LIFE INTERNATIONAL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

Important legal notice

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32011M6181

Commission Decision of 27/06/2011 declaring a concentration to be compatible with the common market (Case No COMP/M.6181 - SEB TRYGG LIV HOLDING / IRISH LIFE INTERNATIONAL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)  

          |EUROPEAN COMMISSION     |
            Brussels , 27.6.2011
             C(2011) 4703 final PUBLIC VERSION
             SIMPLIFIED MERGER PROCEDURE
            To the notifying party | |
             Dear Madam(s) and/or Sir(s),
             Subject: Case No COMP/M.6181 - SEB TRYGG LIV HOLDING/ IRISH LIFE INTERNATIONAL  Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004  [1]  
            1.  On 20/05/2011, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by the undertaking SEB Trygg Liv Holding AB ("SEB Trygg Liv", Sweden), controlled by Skandinaviska Enskilda Banken AB ("SEB Group", Sweden) acquires within the meaning of Article 3(1)(b) of the  Merger Regulation control of the whole of Irish Life International Limited ("ILI", Ireland) by way of purchase of shares.
            2.  The business activities of the undertakings concerned are:
              - for SEB Trygg Liv : life insurance products in Estonia, Latvia, Lithuania and Sweden;
              - for SEB Group : North European financial group active in retail banking, merchant banking, wealth management, and life insurance.
              - ILI : life assurance company, active in the transaction of single premium unit linked life assurance and investment business in the international market [2]  .
            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)i and 5(c)ii 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
            [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 161, 31.05.2011, p.4.
            [3] OJ C 56, 5.3.2005, p. 32.