The EU Commission finds that Hungary’s decision to block a merger between two insurance firms breached EU law because the Commission has exclusive competence to assess mergers with a Union dimension (AEGON / Vienna Insurance)

Mergers: Commission finds that Hungary's veto over the acquisition of AEGON's Hungarian subsidiaries by VIG breached Article 21 of the EU Merger Regulation* The European Commission has concluded that Hungary's decision to veto the acquisition of the Hungarian subsidiaries of the AEGON Group by Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) breached Article 21 of the EU Merger Regulation (EUMR), which confers upon the Commission exclusive competence for concentrations having Union dimension. The Commission investigation VIG's acquisition of AEGON Group's Hungarian subsidiaries forms part of a wider transaction whereby VIG plans to

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European Commission, The EU Commission finds that Hungary’s decision to block a merger between two insurance firms breached EU law because the Commission has exclusive competence to assess mergers with a Union dimension (AEGON / Vienna Insurance), 21 February 2022, e-Competitions May 2022, Art. N° 106417

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