CELEX: 32014M7364
Language: en
Date: 2014-09-26 00:00:00
Title: Commission Decision of 26/09/2014 declaring a concentration to be compatible with the common market (Case No COMP/M.7364 - BLACKSTONE / LOMBARD) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |
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                                        Brussels, 26.9.2014
                                        C(2014) 7080 final

|To the notifying party:                                            |                                                                   |

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

Subject:    Case M.7364 - BLACKSTONE / LOMBARD
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

 1. On 03.09.2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation  by
    which The Blackstone Group L.P. ("Blackstone", USA) acquires within the meaning of Article 3(1)(b) of the Merger Regulation  control  of  the
    whole of Lombard International Assurance S.A. ("Lombard", Luxembourg) and  Insurance  Development  Holdings  A.G.  ("Insurance  Development",
    Switzerland), jointly referred to as "Lombard", by way of purchase of shares.

 2. The business activities of the undertakings concerned are:

  – for Blackstone: an alternative asset manager and provider of financial advisory services, active globally;

  – for Lombard: a provider of life insurance services, in particular unit-linked insurance plan services mainly in the EEA[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) 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 316, 16.09.2014, p.5.
[3]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE