CELEX: 32015M7562
Language: en
Date: 2015-06-05 00:00:00
Title: Commission Decision of 05/06/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7562 - CANADA LIFE GROUP / LGII) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 5.6.2015
                                        C(2015) 3920 final

                                        [pic]

|To the notifying party:                                                |                                                                       |
|                                                                       |                                                                       |

Dear Sirs,

Subject:    Case M.7562 - CANADA LIFE GROUP/ LGII
         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 May 2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation  by
    which Canada Life Group (UK) Limited ("Canada Life", the UK), an indirect subsidiary of Great-West Lifeco  Inc.,  ultimately  controlled  by
    Power Corporation of Canada, acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of Legal & General
    International (Ireland)  Limited ("LGII", Ireland) by way of purchase of shares, as well as control of the current book  of  life  insurance
    policies of Legal & General Deutschland ("LG Deutchland life business", Germany) by way of purchase of assets.[3]

 2. The business activities of the undertakings concerned are:

      – Canada Life: provision of life insurance, retirement savings and asset management in particular in the  UK,  Ireland,  Isle  of  Man  and
        Germany.

      – for LGII: provision of life insurance mainly in the UK and, on a smaller scale, in the Channel Islands, the Isle of Man and Italy.

      – LG Deutschland life business: life insurance in Germany

 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)
                                        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]   OJ L 1, 3.1.1994, p. 3 ("the EEA Agreement").

[3]   Publication in the Official Journal of the European Union No C 162, 19.5.2015, p. 17.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE