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30 / 07 / 13
Mergers: Commission clears acquisition of joint control over group of buildings in Paris by Norges Bank and Generali
The European Commission has cleared under the EU Merger Regulation the acquisition of joint control over a group of five properties in Paris by Norges Bank of Norway, and the insurance group Assicurazioni Generali of Italy. Both Norges Bank and Generali are engaged in real estate activities. The Commission therefore assessed the effects of the proposed transaction on the markets for the ownership and management of real estate properties in Paris, and came to the conclusion that the transaction would not raise competition concerns. Indeed the merged entity will have very limited combined market shares. The operation 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.6934 .
In July the Economic Sentiment Indicator (ESI) increased by 1.2 points in the euro area (to 92.5) and by 2.4 points in the EU (to 95.0), continuing the upward trend observed since May.
In July 2013, the Business Climate Indicator (BCI) for the euro area increased by 0.14 points to 0.53. The assessment of past production improved sharply and also production expectations and the level of overall order books were appraised more positively. The assessment of the level of export order books and the stocks of finished products remained broadly unchanged.
In the first quarter of 2013, the household saving rate in the euro area was 13.1%, compared with 12.4% in the fourth quarter of 2012. In the EU27, the household saving rate was 11.0%, compared with 10.7% in the previous quarter. These data come from a detailed set of seasonally adjusted quarterly European sector accounts released by Eurostat, the statistical office of the European Union and the European Central Bank (ECB).
First quarter of 2013 - Business investment rate down to 18.8% in the euro area and to 18.3% in the EU27 - Business profit share at 37.7% and at 37.2% respectively
In the first quarter of 2013, the business investment rate was 18.8% in the euro area, compared with 19.5% in the fourth quarter of 2012. This fall was the result of investment decreasing (-3.4%) while gross value added remained unchanged. Total stocks (materials, supplies and finished goods) fell for the fourth quarter in a row. In the EU27 the investment rate was 18.3% in the first quarter, compared with 19.1% in the previous quarter. These data come from a detailed set of seasonally adjusted quarterly European sector accounts released by Eurostat, the statistical office of the European Union, and the European Central Bank (ECB).