The President of UOKiK has given her consent to the takeover of BZ WBK – AVIVA Towarzystwo Ubezpieczeń na Życie and BZ WBK – AVIVA Towarzystwo Ubezpieczeń Ogólnych by Bank Zachodni WBK. The conducted proceedings revealed that concentration would not lead to the restriction of competition

Bank Zachodni WBK and its depending entities form together the BZ WBK group offering, inter alia, banking and brokerage services as well as investment funds management. Together with Aviva International Insurance, the two entities own 50 % of shares of BZ WBK – AVIVA Towarzystwo Ubezpieczeń na Życie, BZ WBK – AVIVA Towarzystwo Ubezpieczeń Ogólnych. As a result of concentration, BZ WBK will acquire a majority of shares of the two currently jontly supervised companies.

The conducted proceedings revealed that there are no common markets where participants to this concentration run their activity. For this reason the President of UOKiK decided that this transaction would not result in a restriction of competition.

Under the law, any transaction is subject to notification to the antitrust authority if it involves undertakings whose total turnover in the preceding year exceeded EUR 1 billion globally or EUR 50 million in Poland.

Decisions granting consent to implement a concentration expire if the merger is not completed within 2 years from the decision issue date. Information about all concentration-related antitrust proceedings conducted by the Office is available on the Office’s website. For more information concerning merging undertakings, please see the specially made guidelines.

Additional information for the media:
Małgorzata Cieloch, Spokesperson for UOKiK
Department of International Relations and Communication
Pl. Powstańców Warszawy 1, 00-950 Warszawa
Tel.: +48 22 827 28 92, 55 60 314, 55 60 430
Fax: +48 22 826 11 86
E-mail: [SCODE]bWFsZ29yemF0YS5jaWVsb2NoQHVva2lrLmdvdi5wbA==[ECODE]