CELEX: 32015M7546
Language: en
Date: 2015-03-31 00:00:00
Title: Commission Decision of 31/03/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7546 - APOLLO / DELTA LLOYD) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 31.3.2015
                                        C(2015) 2333 final

                                        [pic]

|To the notifying party:                                                |                                                                       |
|                                                                       |                                                                       |

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

Subject:    Case M.7546 - APOLLO/ DELTA LLOYD
         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 6.3.2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of  the  Merger  Regulation  by
    which Athene Holding Ltd which is controlled by Apollo Management L.P. ('Apollo', US) acquire(s) within the meaning of  Article  3(1)(b)  of
    the Merger Regulation control of the whole of Delta Lloyd Deutschland AG ('Delta Lloyd', Germany) by way of purchase of shares.[3]

 2. The business activities of the undertakings concerned are:

  – for Apollo: investment, through funds managed through its affiliates, in companies and  debt  issued  by  companies  in  various  businesses
    around the world, including in the chemical, real estate, insurance and paper businesses;  renting  and  operating  owned  and  leased  real
    estate.

  – for Delta Lloyd: life insurance and leasing of real estate, almost exclusively 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 88, 14.3.2015, p. 9.

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

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE