CELEX: 32004M3610
Language: en
Date: 2004-11-30 00:00:00
Title: Commission Decision of 30/11/2004 declaring a concentration to be compatible with the common market (Case No COMP/M.3610 - FRIENDS PROVIDENT / LOMBARD / IDH) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

Important legal notice

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32004M3610

Commission Decision of 30/11/2004 declaring a concentration to be compatible with the common market (Case No IV/M.3610 - FRIENDS PROVIDENT / LOMBARD / IDH) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)  

	| |Brussels, 30.11.2004SG-Greffe(2004) D/205440To the notifying partiesDear Sirs,Subject : Case No. COMP/M.3610 – Friends Provident/Lombard/IDH Notification of 26.10.2004 pursuant to Article 4 of Council Regulation (EC) No. 139/2004 [1] Publication in the Official Journal of the European Union No. C 272 page 3.1.  On 26.10.2004 , the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which the undertaking Friends Provident plc (“Friends Provident”, UK) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertakings Lombard International Assurances SA (“Lombard”, Luxembourg) and Insurance Development Holdings AG (“IDH”, Switzerland) by way of purchase of shares.2.  The business activities of the undertakings concerned are:- for Friends Provident: Life insurance and pension products, asset management services,- for Lombard: Life insurance products,- for IDH: Financial holding company with operating subsidiaries active in marketing services.3.  After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 and of paragraph 5, subparagraph c of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No. 139/2004[2].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 (EC) No. 139/2004.For the CommissionNeelie KROES Member of the Commissionsigned[1] OJ L 24, 29.1.2004 p. 1[2] Available on DG COMP website: http://europa.eu.int/comm/competition/mergers/legislation/consultation/simplified_tru.pdf.MERGER PROCEDUREARTICLE 6(1)(b) DECISIONSIMPLIFIED PROCEDUREPUBLIC VERSION