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EULER HERMES / MAPFRE / SOLUNION
M.8794
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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
On 18 January 2018, the Commission received notification of a proposed concentration pursuant to which MAPFRE, S.A ("MAPFRE", Spain) will promote the renewal of its guarantee insurance policies in Spain by the full-function joint-venture SOLUNION SEGUROS, COMPAÑÍA INTERNACIONAL DE SEGUROS Y REASEGUROS, S.A. ("SOLUNION", Spain) (the "Proposed Transaction"), which is jointly controlled by both MAPFRE and EULER HERMES GROUP ("EULER HERMES", France).
The business activities of the undertakings concerned are:
a) MAPFRE: is an international Spanish business group, listed on the Madrid and Barcelona stock exchanges and part of IBEX 35. The group is active in insurance and reinsurance activities in 45 countries at worldwide level.
b) EULER HERMES: is an international business group, operating in more than 50 countries worldwide, mainly active in the commercialization of trade credit insurance and a recognized specialist in the areas of bonding, guarantees and collections. It is ultimately controlled by the Allianz Group ("ALLIANZ", Germany), a group active in the insurance, banking and asset management sectors in more than 70 countries around the world, with the largest of its operations being in Europe.
c) SOLUNION is an autonomous joint-venture currently active in the provision of delcredere insurance in Spain and certain countries in Latin America (Argentina, Chile, Colombia and Mexico).
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.
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.