Green light for joint acquisition of office building
Thursday 26 July 2012
The European Commission authorised, on 26 July, the acquisition of a building by the insurance companies CNP Assurances (France) and BNP Paribas, the latter via its subsidiary Cardif Assurance Vie (France). The building in question is an office building located in Charenton-le-Pont in the department of Val-de-Marne in France. The Commission found that the concentration would not lead to any significant competition concerns in the European Economic Area or a sizeable part of it. The parties’ activities do not present any significant overlap on the local market for proprietary management of office space. CNP Assurances is active in life and health insurance in France, in particular health, credit insurance, retirement savings and personal risk insurance. Cardif Assurance Vie also operates in the sector of life and health insurance in France, in particular in life insurance.