Case No COMP/M.5242 - ZURICH / CAIXA SABADELL / SABADELL VIDA / SABADELL GENERALES

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REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 29/07/2008

In electronic form on the EUR-Lex website under document number 32008M5242

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

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 29.07.2008

SG-Greffe(2008) D/204946

PUBLIC VERSION

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

To the notifying parties:

Dear Madam(s) and/or Sir(s),

Subject: Case No. COMP/M.5242 – ZURICH/ CAIXA SABADELL/ SABADELL VIDA/ SABADELL GENERALES Notification of 03/07/2008 pursuant to Article 4 of Council Regulation (EC) No. 139/2004 Publication in the Official Journal of the European Union No. C 186, 23.07.2008, p. 40

1(1) On 03/07/2008, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which the undertakings Zurich Vida, Compañía de Seguros y Reaseguros, S.A. (“Zurich Vida” Spain) and Zurich España, Compañía de Seguros y Reaseguros, S.A (“Zurich Generales” Spain) belonging to the Zurich Group ("Zurich Group" Switzerland) and Caixa d’Estalvis de Sabadell (“Caixa Sabadell” Spain) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of CaixaSabadell Vida, S.A. de Seguros y Reaseguros (“Sabadell Vida” Spain) and CaixaSabadell Companyia d’Assegurances Generals, S.A. (“Sabadell Generales” Spain), which are currently wholly-owned subsidiaries of Caixa Sabadell, by way of purchase of shares.

(2) The business activities of the undertakings concerned are:

-- for Zurich Group : insurance, re-insurance, pensions and investment products in Europe, America and Asia

-- for Zurich Vida : Spanish subsidiary of the Zurich Group in the field of life insurance;

1OJ L 24, 29.1.2004 p. 1

Commission européenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.

-- for Zurich Generales : Spanish subsidiary of the Zurich Group in the field of non-life insurance;

-- for Caixa Sabadell: savings bank mainly active in retail banking;

-- for Sabadell Vida : life insurance and pension products;

-- for Sabadell Generales : non-life insurance (home and accidents insurance).

2(3) After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 and of paragraph 5, subparagraph c of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No. 139/2004.

(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 (EC) No. 139/2004.

For the Commission (signed) Philip LOWE Director General

2OJ C 56, 05.3.2005 p.32

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