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GAMALIFE / GOING CONCERN OF ZURICH INVESTMENTS LIFE SPA
M.10582
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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 notified concentration concerns the acquisition by GamaLife – Companhia de Seguros de Vida, S.A. ("GamaLife"), a life insurance undertaking, primarily active in Portugal, wholly-owned by investment funds advised by Apax Partners LLP ("AP", UK) of sole control over a business unit comprising a mainly closed portfolio of life insurance contracts and the relevant assets, operations, contracts, employees, rights, liabilities and obligations (the "Target", Italy). The Target is currently owned by Zurich Investment Life S.p.A. (the "Transaction").
As a result of the Transaction, GamaLife will acquire sole control over the Target within the meaning of Article 3(1)(b) of the Merger Regulation.
The areas of activity of the undertakings concerned by the Transaction are as follows:
- GamaLife - a life insurance undertaking, primarily active in Portugal;
- Target – a business unit comprising a mainly closed portfolio of life insurance contracts, together with the relevant assets, operations, contracts, employees, rights, liabilities and obligations.
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.