CELEX: 32021M10352
Language: en
Date: 2021-06-28 00:00:00
Title: Commission Decision of 28/06/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10352 - CNP / UNICREDIT / AVIVA LIFE / AVIVA SPA) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 28.6.2021
                                                                C(2021) 4926 final
                                                                                PUBLIC VERSION
                                                                CNP Assurances S.A.
                                                                4 place Raoul-Dautry
                                                                75015 Paris
                                                                France
                                                                UniCredit S.p.A.
                                                                Piazza Gae Aulenti 3
                                                                20154 Milano
                                                                Italy
Subject:         Case M.10352 – CNP / UNICREDIT / AVIVA LIFE / AVIVA SPA
                 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 4 June 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which CNP
        Assurances S.A. (‘CNP’, France), ultimately controlled by Caisse des Dépôts et
        Consignations (‘CDC’, France) acquires within the meaning of Article 3(1)(b) of the
        Merger Regulation sole control over the whole of the Aviva Life S.p.A. (‘Aviva Life’,
        Italy) and Aviva Italia Servizi, S.c.a.r.l. (‘Aviva Servizi’, Italy) both belonging to
        Aviva plc’s group, and CNP and UniCredit S.p.A. (‘UniCredit’, Italy) acquire within
        the meaning of Article 3(1)(b) of the Merger Regulation joint control of Aviva S.p.A.
        (Italy) also belonging to Aviva plc’s group, by way of purchase of shares. 3
2.      The business activities of the undertakings concerned are:
        −     CNP develops, provides and manages insurance products globally. In Italy, CNP
              is mainly active in the provision of life insurance products,
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 226, 14.06.2021, p. 5.
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---    −    UniCredit is an Italian banking group providing banking and financial services in
        Italy and worldwide,
   −    Aviva Life provides life insurance products in Italy,
   −    Aviva Servizi provides fiscal, administration and financing, information
        technologies, human resources, actuarial, marketing and communication and legal
        services to its shareholders within the Aviva plc group,
   −    Aviva S.p.A. provides life insurance products in Italy.
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. 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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