The European Commission authorizes the acquisition of GACM Spain by AXA Spain

The European Commission has approved under the EU Merger Regulation the acquisition of GACM España, S.A.U. (“GACM España”) by AXA Seguros Generales, S.A. de Seguros y Reaseguros (“AXA Seguros Generales”), both of Spain.

The two companies offer insurance products throughout Spain, as well as hospital services in Barcelona and Cantabria.

The Commission concluded that the proposed acquisition would not raise competition concerns in view of the moderate combined market positions of the companies resulting from the transaction and the very limited vertical links between the companies’ activities.

The transaction was examined under the normal merger review procedure. For more information, see the Commission’s competition website, in the public case register under the case number M.10986

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Source: European Commission