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

This notification involves a proposed concentration pursuant to Article 4 of the EC Merger Regulation by which Hibernian Life Holdings Limited, a company incorporated in Ireland and a subsidiary of Aviva plc will acquire within the meaning of Article 3(1)(b) of the EC Merger Regulation, control of the whole of Ark Life Assurance Company Limited, a company also incorporated in Ireland and a subsidiary of AIB plc by way of a Share Purchase and Subscription Agreement.

The business activities of the undertakings concerned are:

-ï Aviva plc: provision of life insurance products including protection, pensions and savings and investment products and the provision of investment management services; and

-ï Ark Life Assurance Company Limited: provision of life insurance products including protection, pensions and savings and investment products.

Ancillary Arrangements: On completion, Hibernian Life Holdings Limited, Ark Life and Hibernian L&P will enter into an agreement with AIB plc for the distribution of life insurance products through the AIB retail banking network in Ireland.