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Autoridade da Concorrência

Case details

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Merger control
Case reference
CCENT/2005/45 - BNC/EUROVIDA
Acquiring
BNC - Banco Nacional de Crédito, S.A.
Description
a credit institute controlled by the Banco Popular Español Group;
Acquired
Eurovida - Companhia de Seguros de Vida, S.A.
Description
an insurance company whose corporate object is the exercise of the business activity of life insurance; until the projected merger, jointly controlled by BNC and CGU International Insurance plc.
Acquiring
Grupo Banco Popular Español
Description
Group which holds the entire share capital of the BNC in Portugal
Sector
  • Banking, Financial and Insurance activities
Activity (NACE)
  • K66 - Activities auxiliary to financial services and insurance activities
Applicable legislation
Art. 9(1)(b) (Law 18)
Notification thresholds
Turnover
Type of merger
Horizontal
Cooperation with sector regulators
  • ASF - Insurance and Pension Fund Supervisory Authority
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Case description
Notified on 24 August 2005, this merger consists of the acquisition of sole control of EUROVIDA - Companhia de Seguros de Vida SA (hereinafter referred to as "Eurovida") by BNC - Banco Nacional de Crédito SA (hereinafter referred to as "BNC").
Timeline
2005-09-26
Competition Authority approves the acquisition by BNC - Banco Nacional de Crédito SA of sole control of EUROVIDA - Companhia de Seguros de Vida SA.
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