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Mergers: Commission clears acquisition of Tranquilidade by Apollo
The European Commission has approved under the EU Merger Regulation the acquisition of Companhia de Seguros Tranquilidade S.A. of Portugal by investment funds managed by affiliates of Apollo Management L.P. of the United States. Affiliates of Apollo invest in companies and debt issued by companies involved in various businesses throughout the world. Examples of current investments include, inter alia, companies in the chemical, cruise line, logistics, paper, and metals businesses. Tranquilidade provides insurance products and services mainly in Portugal. The Commission concluded that the proposed acquisition would raise no competition concerns because of the companies' moderate combined market shares on the markets concerned. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.7409.
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