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ZURICH / SANTANDER / ZS INSURANCE
M.6384
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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.
COMP/M. 6384 -Zurich/Santander/ZS Insurance
SECTION 1.2
Description of the concentration
1.Zurich and Santander plan to acquire joint control, within the meaning of Articles 3(1) (b) and 3(4) of the EC Merger Regulation, over ZS Insurance, a company based and registered in Spain, under the terms specified in paragraph 53 and following.
The main business activities of the undertakings to the concentration are:
• for Zurich: insurance;
• for Santander: commercial banking, retail banking and asset management, corporate banking, investment banking and treasury.
• for ZS Insurance: insurance, exclusively in Latin America.