Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves acquisition of Norske Skog by Blackstone, (Feb 22, 2016)

By Michael Menzhuber, J.D., LL.M.

The European Commission (EC) has approved under the European Union (EU) merger regulation the acquisition of Norske Skog of Norway by Blackstone of the U.S., the EC announced today.

Norske Skog is active in the forest products industry, with its core activity being the production and sale of wood-based printing (newsprint and magazines). The Norwegian company has operations in Europe, Australia, and New Zealand. Blackstone is a global alternative asset manager and provider of financial advisory services.

The EC concluded that the proposed acquisition would raise no competition concerns because: (1) the companies’ activities do not overlap; and (2) none of the companies held by Blackstone are active in markets related to those where Norske Skog is active.

CBA Vita S.p.A. The EC also has approved under the EU merger regulation the acquisition of CBA Vita S.p.A. (CBA) and its wholly-owned subsidiary Sella Life Unlimited (Sella), both of Italy, by HDI Assicurazioni S.p.A. (HDI), also of Italy. HDI is a subsidiary of Talanx, a German insurance group.

CBA supplies life insurance products in Italy to private, professional, and corporate customers. Sella provides unit-linked insurance contracts (offering at the same time insurance and investment services) in Italy. HDI offers insurance products to private and corporate customers in Italy.

The EC concluded that the proposed acquisition would raise no competition concerns because of its very limited impact on the market.

Companies: Norske Skog; Blackstone; CBA Vita S.p.A; Sella Life Unlimited; HDI Assicurazioni S.p.A.; Talanx

News: AcquisitionsMergers Antitrust