Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC clears CSL acquisition of Novartis' influenza vaccines business, (Jul 21, 2015)
Organizations Mentioned:AMF PensionsfÖrsä | CSL Group | Ilmarinen Mutual Pension Insurance Company. | KiinteistÖ Oy Ilmarisen Talo 114 | Novartis International AG | kring AB
By Edward L. Puzzo, J.D.
The European Commission has approved CSL’s acquisition of Novartis' influenza vaccines business, it has been announced. CSL is an Australian pharmaceutical company active globally in research, development, manufacturing, and marketing of biotherapies, vaccines (through its subsidiary bioCSL), and other pharmaceuticals. The human influenza vaccines business of Switzerland-based Novartis manufactures and sells influenza vaccines, primarily in the US, the European Economic Area, and Argentina. The parties' activities overlap regarding seasonal influenza vaccines. The Commission concluded that the proposed acquisition would not raise competition concerns because the combined market shares of the parties will remain moderate and strong competitors will remain active in the market after the merger (case number M.7583).
AMF and Ilmarinen joint venture. Separately, the European Commission approved the acquisition of joint control of Kiinteistö Oy Ilmarisen Talo 114 (“JV") of Finland, by AMF Pensionsförsäkring AB ("AMF") of Sweden and Ilmarinen Mutual Pension Insurance Company ("Ilmarinen") of Finland. The JV is a newly-created company that will be active in real estate investments and the leasing of office and storage space to third parties. AMF is active in property investment and development, as well as in life insurance, while Ilmarinen is also active in real estate investments and development, as well as in employment pension insurance and other financial investments. The parties' and the JV's activities overlap only in the Finnish and Swedish retail real estate markets as a result of the establishment of another joint venture by AMF and Ilmarinen with a third party. The Commission concluded that the proposed acquisition would not raise competition concerns, given the parties' or the JV's moderate combined market positions resulting from the proposed transaction (case number M. 7653).
Companies: Novartis International AG; CSL Group; Kiinteistö Oy Ilmarisen Talo 114; AMF Pensionsförsäkring AB; Ilmarinen Mutual Pension Insurance Company.
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