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ZURICH / BANCO SABADELL / BANSABADELL VIDA / BANSABADELL PENSIONES / BANSABADELL GENERALES
M.5277
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 1.2
Description of the concentration
The Proposed Transaction involves in the acquisition by Zurich of a 50% shareholding in the companies BanSabadell Vida, BanSabadell Pensiones and BanSabadell Generales, currently wholly-owned subsidiaries of Banco Sabadell.
The main activities of the undertakings are:
• The Zurich Group: insurance and re-insurance.
• Banco Sabadell: retail banking.
• BanSabadell Vida, BanSabadell Pensiones and BanSabadell Generales: insurance and pension products.
The Parties have requested that they be allowed to use the Short Form and that the European Commission examines the concentration under the simplified procedure.