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Document C2008/067/11

Prior notification of a concentration (Case COMP/M.5087 — Candover/Towergate/Paymentshield/Open GI) — Candidate case for simplified procedure Text with EEA relevance

OJ C 67, 12.3.2008, p. 59–59 (BG, ES, CS, DA, DE, ET, EL, EN, FR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

Date of document:
12/03/2008; Date of publication
Author:
European Commission
Form:
Announcements

12.3.2008   

EN

Official Journal of the European Union

C 67/59

Prior notification of a concentration

(Case COMP/M.5087 — Candover/Towergate/Paymentshield/Open GI)

Candidate case for simplified procedure

(Text with EEA relevance)

(2008/C 67/11)

1.

On 5 March 2008, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Candover Partners Limited (‘Candover’, United Kingdom) acquires within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertakings Towergate Partnership Limited (‘Towergate’, United Kingdom), Paymentshield Group Holdings Limited (‘Paymenshield’, United Kingdom) and Broomco Limited (‘Open GI’, United Kingdom) by way of purchase of shares.

2.

The business activities of the undertakings concerned are:

—

for undertaking Candover: provision of fund management services including the provision of investments management advice and services to investment funds,

—

for undertaking Towergate: distribution of non-life insurance products primarily to SME's,

—

for undertaking Paymentshield: distribution of mortgage payment protection insurance and building and contents insurance products for individuals through other insurance intermediaries,

—

for undertaking Open GI: provision of insurance technology solutions to insurance intermediaries.

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.5087 — Candover/Towergate/Paymentshield/Open GI to the following address:

European Commission

Directorate-General for Competition

Merger Registry

J-70

B-1049 Bruxelles/Brussel

(1)  OJ L 24, 29.1.2004, p. 1.

(2)  OJ C 56, 5.3.2005, p. 32.

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