CELEX: 32001M2526
Language: en
Date: 2001-09-27 00:00:00
Title: COMMISSION DECISION of 27/09/2001 declaring a concentration to be compatible with the common market (Case No IV/M.2526 - GE INSURANCE HOLDING/NATIONAL MUTUAL LIFE) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

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32001M2526

COMMISSION DECISION of 27/09/2001 declaring a concentration to be compatible with the common market (Case No IV/M.2526 - GE INSURANCE HOLDING/NATIONAL MUTUAL LIFE) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)  

Official Journal 323 , 20/11/2001 P. 0011 - 0011

COMMISSION DECISION of 27/09/2001 declaring a concentration to be compatible with the common market (Case No IV/M.2526 - GE INSURANCE HOLDING/NATIONAL MUTUAL LIFE) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)Brussels, 27.09.2001SG (2001) D/291573To the notifying partyDear Madams and Sirs,Subject: Case No. COMP/M.2526 - GE Insurance Holdings/National Mutual Life Notification of 24 August 2001 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 [1] Publication in the Official Journal of the European Communities No. C 246, 4.9.2001, p.2[1]   OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17.1. On 24.08.2001, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 [2] by which the U.K. based undertaking GE Insurance Holdings Limited ("GE Insurance") belonging to the U.S. group General Electric Company ("GE") acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the U.K. based National Mutual Life Assurance Society ("National Mutual") by way of purchase of assets.[2]   OJ L 395, 30.12.1989 p. 1; corrigendum OJ L 257 of 21.9.1990, p. 13; Regulation as last amended by Regulation (EC) No 1310/97 (OJ L 180, 9. 7. 1997, p.  1, corrigendum OJ L 40, 13.2.1998, p. 17).2.  The business activities of the undertakings concerned are: - for GE Insurance: insurance and savings business - for GE: diversified industrial corporation active in numerous fields including aircraft engines, transportation systems, industrial systems, power systems, plastics, lighting, medical systems, appliances, media, financial services, software and Internet services. - for National Mutual: life insurance and pension products3. After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No. 4064/89 and of paragraph 4, subparagraph c of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No 4064/89 [3].  [3]   OJ C 217, 29.07.2000, p. 32.4. For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement.  This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No. 4064/89.For the Commission(signed)  Mario MONTI Member of the Commission