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Autoridade da Concorrência

Case details

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Merger control
Case reference
CCENT/2010/12 - MDS*Salvador Caetano Auto/Coral
Acquired
Coral - Corretores de Seguros, S.A.
Description
a company providing insurance brokerage services.
Acquiring
MDS, SGPS, S.A.
Description
a holding company that carries out insurance brokerage activities (in Portugal and Brazil) and reinsurance activities (worldwide), through the companies that it controls; it is owned by Sonae SGPS SA and IPLF Holding, the latter of which is owned by individual shareholders belonging to the Feffer family.
Acquiring
Salvador Caetano Auto, SGPS, S.A.
Description
a sub-holding of the Salvador Caetano Group, an economic group whose core business is carried out in the motor vehicle and related activities sector.
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 8 April 2010, this merger operation consists of the acquisition, by MDS, SGPS SA (MDS) and Salvador Caetano Auto SGPS SA (SCA), of joint control of the insurance brokerage firm Coral - Corretores de Seguros SA (Coral), at present 100% owned by SCA, by means of MDS´s purchase from SCA of the shares representing 50% of Coral´s registered capital.
Timeline
2010-05-14
The Competition Authority Council adopts a decision of non-opposition to Merger 12/2010 - MDS*Salvador Caetano Auto/Coral
2010-04-16
Publication of the announcement
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