EU exec clears acquisition of MetLife Assurance by Rothesay Life

BRUSSELS Tue Apr 29, 2014 5:46am EDT

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BRUSSELS (Reuters) - The European Commission, the European Union's competition watchdog, approved on Tuesday the acquisition of Britain's MetLife Assurance Limited by another British firm Rothesay Life Limited.

"The Commission concluded that the transaction would not raise any competition concerns, in particular because the merged entity will continue to face strong competition after the merger," the Commission said in a statement.

Rothesay is an insurance company headquartered in London and jointly controlled by Blackstone Group L.P. and Goldman Sachs Group Inc. MetLife Assurance Limited is also an insurance company currently owned by the US based company MetLife European Holdings LLC.

(Reporting By Jan Strupczewski)

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