Acquisition of Compensa given go-ahead under simplified EC procedures

Germany's HUK-Coburg Holding and Austria's Wiener Staedische Allgemeine Versischerung have acquired more than 99% of shares in Compensa, one of Poland's largest insurance companies. They have achieved the takeover through the acquisition of a 100% stake in the Hamburg-Mannheimer Group of Germany. So far, the new owners have not revealed their plans for Compensa. The acquisition was given the official go-ahead under simplified European Commission (EC) procedures, which allow non-controversial deals to be cleared automatically after a month if no competition concerns are raised. (Prawo i Gospodarka, p. 7; Reuters) A.K.