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Document 52021M10446

Prior notification of a concentration (Case M.10446 – Swiss Life Holding/Gelsenwasser/Infrareal) Candidate case for simplified procedure (Text with EEA relevance) 2021/C 424/02


OJ C 424, 20.10.2021, p. 2–3 (BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)



Official Journal of the European Union

C 424/2

Prior notification of a concentration

(Case M.10446 – Swiss Life Holding/Gelsenwasser/Infrareal)

Candidate case for simplified procedure

(Text with EEA relevance)

(2021/C 424/02)


On 11 October 2021, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).

This notification concerns the following undertakings:

Swiss Life Holding AG (‘Swiss Life’, Switzerland),

Gelsenwasser AG (‘Gelsenwasser’, Germany),

Infrareal GmbH (‘Infrareal’, Germany).

Swiss Life and Gelsenwasser acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Infrareal.

The concentration is accomplished by way of purchase of shares.


The business activities of the undertakings concerned are:

for Infrareal: consists of a German management holding company for site operating companies and two operational subsidiaries, Pharmaserv GmbH and Pharmapark Jena GmbH. Pharmaserv GmbH and Pharmapark Jena GmbH operate business parks in Germany with a focus on the life science sector and provide, inter alia, site management services, integrated infrastructure, and technical and logistics services in this regard,

for Gelsenwasser: a utilities company that supplies natural gas and fresh water to residents in Germany. It is mainly active in five sectors: water, wastewater, energy networks, energy sales, and investments.

for Swiss Life: a European provider of comprehensive life, pensions and financial solutions. Under its umbrella brand, it offers individuals and corporations comprehensive and individual advice plus a broad range of own and partner products through its sales force and distribution partners such as brokers and banks. Swiss Life is active in the life insurance sector and the investment and asset management segment.


On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.

Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council 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.


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. The following reference should always be specified:

M.10446 — Swiss Life Holding/Gelsenwasser/Infrareal

Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:


Fax +32 22964301

Postal address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel


(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.