EC approves acquisition of HDI Poland by Talanx and Meiji Yasuda Life Insurance.

By bne IntelliNews November 21, 2012
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of joint control over two Polish insurance companies HDI Asekuracja and HDI-Gerling Zycie by Talanx International AG and Meiji Yasuda Life Insurance Company, respectively a German and a Japanese insurer, according to the Commission's press release. The two acquired companies are currently solely controlled by Talanx. The Commission concluded that the transaction would not raise competition concerns because the merged entity would continue to face a number of strong competitors. The transaction concerns the Polish insurance market only. The Commission examined the competitive effects of the proposed acquisition in the markets for life and non-life insurance, where the parties' activities overlap. As the two parent companies are active on the market for reinsurance, the transaction would also create a vertical relationship. The transaction was notified to the Commission on Oct 17 of 2012.
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