Brussels, 8 May 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of GACM España, S.A.U. (‘GACM Spain’) by AXA Seguros Generales, S.A. de Seguros y Reaseguros (‘AXA Seguros Generales’), both of Spain.
Both companies provide insurance products across Spain as well as hospital services in Barcelona and Cantabria.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the companies’ moderate combined market positions resulting from the transaction and the very limited vertical links between the companies’ activities.
The transaction was examined under the normal merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10986.
Source – EU Commission