CELEX: 32013M7051
Language: en
Date: 2013-11-19 00:00:00
Title: Commission Decision of 19/11/2013 declaring a concentration to be compatible with the common market (Case No COMP/M.7051 - GOLDMAN SACHS  / HASTINGS INSURANCE GROUP) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

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                                        Brussels, 19.11.2013
                                        C(2013) 8255 final

      To the notifying party:

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

Subject:    Case No COMP/M.7051 - Goldman Sachs/ Hastings Insurance Group
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1]

 1. On 21.10.2013, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation  by
    which the undertaking Goldman Sachs Group, Inc. ('Goldman Sachs', USA) acquires indirectly within the  meaning  of  Article  3(1)(b)  of  the
    Merger Regulation control of the whole of the undertaking Hastings Insurance Group Limited ('HIG', Jersey) by way of purchase of shares.

2.    The business activities of the undertakings concerned are:

      -     Goldman Sachs is a global investment banking, securities and investment management firm.

      -     HIG is a non-life insurance provider active in the UK.[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)ii 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 312, 26.10.2013, p. 24, C 312, 26.10.2013, p. 12 (HR)

[3]   OJ C 56, 5.3.2005, p. 32.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE