COMMISSION DECISION of 20/09/2001 declaring a concentration to be compatible with the common market (Case No IV/M.2554 - IF HOLDING/FCI/JV) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) Official Journal 298 , 24/10/2001 P. 0011 - 0011 COMMISSION DECISION of 20/09/2001 declaring a concentration to be compatible with the common market (Case No IV/M.2554 - IF HOLDING/FCI/JV) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic) Brussels, 20.09.2001 SG (2001) D/291534 to 291536 To the notifying parties Dear Madam(s) and/or Sir(s), Subject:
Case No. COMP/M.2554-If Holding/FCI/JV Notification of 20 August 2001 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 [1] Publication in the Official Journal of the European Communities No. C243 of 31/8/2001 [1] OJ 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. 1. On 20 August 2001, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 by which the undertakings If P&C Holding AB ("If Holding"), which is jointly controlled by the Swedish insurer Skandia and the Norwegian company Storebrand ASA ("Storebrand"), the German company Hermes Versicherungsbeteiligungen -GmbH ("HVG"), which belongs to the Allianz-group and the stated-owned Finish undertaking Finnvera plc ("Finnvera") acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking Finnish Credit Insurances Company Ltd ("FCI") by way of a public bid announced on 11 June 2001.
2. The business activities of the undertakings concerned are : - If Holding: non-life insurance services mainly in Sweden and Norway - HVG: credit insurance - Finnvera: export credit insurance, state guarantees for export credits - FCI: credit insurance 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 [2]. [2] OJ C 217, 29.07.2000, p.
32. 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