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Aon-WTW merger: European Fee shares competitors considerations

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“We have launched an in-depth investigation to carefully assess whether the transaction could lead to negative effects on competition, less choice and higher prices for European clients in the commercial risk broker market.”

The Commission, which evaluates mergers and acquisitions in order to prevent market concentrations that significantly affect effective competition in the European Economic Area or in a substantial part of it, decides whether to grant a permit known as Phase I or to move to Phase II continue – deep review.

Both are headquartered in London and based in Ireland. Aon and WTW are represented in more than 120 and 140 countries respectively. In its first market investigation, the competition authorities identified competition concerns with regard to the provision of commercial brokerage services.

The European Commission noted: “The Commission is particularly concerned that the transaction could reduce competition in relation to: brokerage services for large multinational clients in the property and casualty, financial and professional services, credit and political risk classes, Cyber, and Marine; Brokerage services for clients of all sizes for risks in the space and aerospace industries as well as in some additional risk classes in certain national markets. “

In addition, the Commission will now further examine the provision of reinsurance brokerage, advisory and administrative services. Meanwhile, Aon said it looked forward to continuing the dialogue with the EC throughout the process.

“The Phase II review is a common next step in the review process for a transaction of this size and complexity under the EU Merger Regulation and the company remains on track to complete the transaction in the first half of 2021,” said Aon in a separate release report.

“As mentioned earlier, Aon and Willis Towers Watson’s businesses complement each other and operate in large, highly competitive industries. Aon remains confident of achieving positive results without divestments. Aon expected a thorough review of this combination and will continue to work closely with all relevant regulators, including the EC. “

According to the Commission, it has until May 10th next year to decide on the merger.

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