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Case No COMP/M.7364 - BLACKSTONE / LOMBARD

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 26/09/2014

In electronic form on the EUR-Lex website under document number 32014M7364

Office for Publications of the European Union L-2985 Luxembourg

EUROPEAN COMMISSION

Brussels, 26.9.2014 C(2014) 7080 final

PUBLIC VERSION

SIMPLIFIED MERGER PROCEDURE

To the notifying party:

Dear Madam(s) and/or Sir(s),

1.On 03.09.2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which The Blackstone Group L.P. ("Blackstone", USA) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of Lombard International Assurance S.A. ("Lombard", Luxembourg) and Insurance Development Holdings A.G. ("Insurance Development", Switzerland), jointly referred to as "Lombard", by way of purchase of shares.

The business activities of the undertakings concerned are:

-– for Blackstone: an alternative asset manager and provider of financial advisory services, active globally;

-– for Lombard: a provider of life insurance services, in particular unit-linked insurance plan services mainly in the EEA .

1OJ 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.

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.

2.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

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.

For the Commission

(signed) Alexander ITALIANER Director General

2Publication in the Official Journal of the European Union No C 316, 16.09.2014, p.5.

3OJ C 366, 14.12.2013, p. 5.

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