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MAPFRE / DL GERMANY / DL ITALY
M.7431
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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
1.On 24 October 2014, the Commission received notification of a proposed concentration pursuant to which Mapfre, S.A ("MAPFRE", Spain) will acquire sole control over both Direct Line Versicherung Aktiengesellschaft ("DL Germany") and Direct Line Insurance S.p.A. ("DL Italy"), which are currently under the sole control of Direct Line Insurance Group plc ("DLIG").
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 47 countries at worldwide level.
b) DL Germany: is a German company which concentrates its activities on non-life insurance products (mainly motor insurance) in Germany.
c) DL Italy: is an Italian company which concentrates its activities on non-life insurance products (mainly motor insurance) in Italy.