CELEX: 32021M10470
Language: en
Date: 2021-10-21 00:00:00
Title: Commission Decision of 21/10/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10470 - SWISS LIFE HOLDING / VAUBAN INFRASTRUCTURE PARTNERS / AVES ONE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 21.10.2021
                                                                 C(2021) 7682 final
                                                                                 PUBLIC VERSION
                                                                 Swiss Life Holding AG
                                                                 General-Guisan-Quai 40
                                                                 P.O. Box 2831
                                                                 CH-8022 Zurich
                                                                 Switzerland
                                                                 Vauban Infrastructure Partners
                                                                 115, Rue Montmartre
                                                                 75002 Paris
                                                                 France
Subject:        Case M.10470 - SWISS LIFE HOLDING / VAUBAN
                INFRASTRUCTURE PARTNERS / AVES ONE
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                (EC) No 139/20041 and Article 57 of the Agreement on the European
                Economic Area2
Dear Sir or Madam,
1.      On 23 September 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Swiss Life
        Holding AG (“Swiss Life”, Switzerland) and Vauban Infrastructure Partners
        (“Vauban”, France), belonging to the group BPCE S.A., acquire within the meaning
        of Article 3(1)(b) of the Merger Regulation joint control of the whole of Aves One
        AG (“Aves one”, Germany) by way of a public bid announced on 21 September
        2021.3
2.      The business activities of the undertakings concerned are:
             for Swiss Life: provider of comprehensive life, pensions and financial solutions,
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 402, 5.10.2021, p. 7.
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---        for Vauban: asset management company with a focus on infrastructure equity
        investments. Vauban belongs to the French banking group BPCE S.A.,
       for Aves One: owner and lessor of rail freight wagons and swap bodies.
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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