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REGULATION (EEC) No 4064/89 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 27/09/2001

Also available in the CELEX database Document No 301M2526

Office for Official Publications of the European Communities L-2985 Luxembourg

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 27.09.2001

SG (2001) D/291573

PUBLIC VERSION

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

To the notifying party

Dear Madams and Sirs,

Subject: Case No. COMP/M.2526 - GE Insurance Holdings/National Mutual Life Notification of 24 August 2001 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 Publication in the Official Journal of the European Communities No. C 246, 4.9.2001, p.2

1.On 24.08.2001, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 by which the U.K. based undertaking GE Insurance Holdings Limited (ìGE Insuranceî) belonging to the U.S. group General Electric Company (ìGEî) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the U.K. based National Mutual Life Assurance Society (ìNational Mutualî) by way of purchase of assets.

1OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17.

2OJ L 395, 30.12.1989 p. 1; corrigendum OJ L 257 of 21.9.1990, p. 13; Regulation as last amended by Regulation (EC) No 1310/97 (OJ L 180, 9. 7. 1997, p. 1, corrigendum OJ L 40, 13.2.1998, p. 17).

Rue de la Loi 200, B-1049 Bruxelles/Wetstraat 200, B-1049 Brussel - Belgium Telephone: exchange 299.11.11 Telex: COMEU B 21877. Telegraphic address: COMEUR Brussels.

2.The business activities of the undertakings concerned are:

-- for GE Insurance: insurance and savings business

-- for GE: diversified industrial corporation active in numerous fields including aircraft engines, transportation systems, industrial systems, power systems, plastics, lighting, medical systems, appliances, media, financial services, software and Internet services.

-- for National Mutual: life insurance and pension products

3.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No. 4064/89 and of paragraph 4, subparagraph c of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No 4064/89.

4.For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No. 4064/89.

For the Commission

(signed) Mario MONTI Member of the Commission

3OJ C 217, 29.07.2000, p. 32.

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