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UNIQA / VENETO BANCA / JV
M.5606
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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 22 June 2009, UNIQA Versicherungen AG (“UNIQA”) and Veneto Banca Holding S.C.p.A. (“VB”) executed an agreement for the establishment of a full-function joint venture in the life insurance sector in Italy.
UNIQA, a company listed on the Vienna Stock Exchange, is the parent company of an Austrian based insurance group, which offers products and services in all insurance sectors (life, non-life and reinsurance). UNIQA is jointly controlled by RZB, Austria Verein and CollVerein. RZB, Austria Verein and CollVerein are not controlled by other entities.
VB is the holding of a group of companies active, mainly in Italy, in the banking sector, in which it carries out all the traditional banking activities for both retail and corporate customers. VB also operates in the asset management, factoring and leasing sectors.