CELEX: 32017M8590
Language: en
Date: 2017-10-06 00:00:00
Title: Commission Decision of 06/10/2017 declaring a concentration to be compatible with the common market (Case No COMP/M.8590 - SOGECAP / CARDIF / DIVERSIPIERRE / HORIZON) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                     
                  
               
               Brussels, 6.10.2017
            
            
               C(2017) 6879 final
            
            
               
                  PUBLIC VERSION
               
            
            
               
            
            
               To the notifying parties
            
            
               Subject:
                     Case M.8590 – SOGECAP / CARDIF / DIVERSIPIERRE / HORIZON 
               Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004
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                and Article 57 of the Agreement on the European Economic Area
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               Dear Sir or Madam,
            
            
               1.On 6 September 2017, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which the undertakings Sogecap S.A. ('Sogecap', France), belonging to the group Société Générale, Cardif Assurance Vie S.A. ('Cardif', France) and Diversipierre Germany GmbH ('Diversipierre', Germany), both belonging to the group BNP Paribas, acquire within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of the undertaking Horizon Development GmbH ('Horizon', Germany), by way of purchase of shares
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               .
            
            
               2.The business activities of the undertakings concerned are:
            
            
               —   for Sogecap: life-insurance company,
            
            
               —   for Cardif: life-insurance company,
            
            
               —   for Diversipierre: real estate holding company,
            
            
               —   for Horizon: owner of an office building located in Düsseldorf, Germany, which is already leased to a third party.
            
            
            
            
               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.
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               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)
            
            
               Johannes LAITENBERGER
                  Director-General
            
            
         
         
            
                  
                     (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 303, 14.09.2017, p. 7.
               
               
                  
                     (4)
                  
                  
                      
                           OJ C 366, 14.12.2013, p. 5.