M/12/025 – AIB / Ark Life
Transaction details
The proposed acquisition of the entire issue share capital of Ark Life Assurance Limited by Allied Irish Banks plc has been cleared by the Competition Authority.
| Notification date | Decision date |
|---|---|
| Friday November 23, 2012 | Wednesday, December 19, 2012 |
| Parties Involved | Business activities |
|---|---|
| Allied Irish Bank plc | AIB offers goods and services in the commercial and personal banking sector, both worldwide and in the State. |
| Ark Life Assurance Company Limited | Ark Life's activities are limited to the management of its closed book of life insurance funds. |
| Economic sector | Media merger |
|---|---|
| Ark Life formerly operated in the design and the underwriting ("manufacture") of life insurance products (comprising protection, saving and investment products and pension products) sector. AIB operates in the commercial and personal banking sector. | No |
| Submissions from third parties due by: | |
|---|---|
| Phase 1 | Phase 2 |
| Thursday, December 6, 2012 | |
| Current status: Completed |
|---|
| Cleared (Phase 1) |
| Authorised Officer Assigned | Contact Details |
|---|---|
| Elaine Cahill | Tel: 01-804 5482, email: ec@tca.ie |
Media enquiries: MKC Communications: 01 7038600
Haven’t found what you’re looking for?
Scroll
Competition and Consumer Protection Commission
PO Box 12585, Dublin 1, D01 C576
Tel +353 (0)1 402 5500
Consumer helpline 01 402 5555