Παρασκευή, 07-Δεκ-2018 17:06
Commission clears the acquisition of sole control over Eurolife by Fairfax
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control over Eurolife Erb Insurance Group Holdings S.A. ("Eurolife") of Greece by Fairfax Financial Holdings Limited ("Fairfax") of Canada. Eurolife, currently jointly controlled by Fairfax andOPG Commercial Holdings S.A. of Luxembourg, is active in life and non-life insurance and reinsurance and insurance distribution in Greece and Romania.
Fairfax is a holding company active in property and casualty insurance and reinsurance and investment management. The Commission concluded that the proposed transaction would raise no competition concerns given the minor horizontal and vertical overlaps between the companies' activities.
The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.9193.