CELEX: 32021M10329
Language: en
Date: 2021-06-18 00:00:00
Title: Commission Decision of 18/06/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10329 - FAIRFAX / EUROLIFE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 18.06.2021
                                                                C(2021) 4598 final
                                                                                 PUBLIC VERSION
                                                                Fairfax Financial Holdings Limited
                                                                95 Wellington Street West, Suite 800
                                                                Toronto, Ontario M5J 2N7
                                                                Canada
Subject:        Case M.10329 – FAIRFAX / EUROLIFE
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                        1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                     2
                Economic Area
Dear Sir or Madam,
1.      On 27 May 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Fairfax
        Financial Holdings Limited (Fairfax, Canada) acquires within the meaning of Article
        3(1)(b) of the Merger Regulation sole control of the whole of Eurolife FFH Insurance
        Group Holdings S.A. (Eurolife, Greece) by way of purchase of shares. 3
2.      The business activities of the undertakings concerned are:
        −     for Fairfax: a holding company active in property and casualty insurance and
              reinsurance and investment management,
        −     for Eurolife: a holding company active in life and non-life insurance and
              reinsurance and insurance distribution in Greece and Romania.
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) and paragraph 5(d) of the Commission Notice on a simplified
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 210, 3.6.2021, p. 14.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak---    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)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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