Brussels, 8 April 2024
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Truist Insurance Holdings LLC, a subsidiary of Truist Financial Corporation, by Clayton, Dubilier & Rice, and Stone Point Capital LLC, all of the US.
The transaction relates primarily to insurance brokerage.
The Commission concluded that the notified transaction would not raise competition concerns, given that the acquired company has negligible activities in the European Economic Area and considering that the companies are not active in the same or vertically related markets. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11501.