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Case No COMP/M.3659 - DRESDNER BANK / CETELEM / JV

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 07/01/2005

In electronic form on the EUR-Lex website under document number 32005M3659

Office for Official Publications of the European Communities L-2985 Luxembourg

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 07/01/2005

SG-Greffe(2004) D/200141

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

PUBLIC VERSION

To the notifying parties

Dear Madam(s) and/or Sir(s),

Subject: Case No. COMP/M. 3659 - Dresdner Bank/ Cetelem S.A./ JV Notification of 29.11.2004 pursuant to Article 4 of Council Regulation (EC) No. 139/2004 Publication in the Official Journal of the European Union No. C304 of 08/12/2004, page4

1.On 29/11/2004, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertakings Dresdner Bank AG (ìDresdnerî Germany), controlled by Allianz AG (ìAllianzî, Germany) and Cetelem S.A.(ìCetelem S.A.î, France) controlled by BNP Paribas S.A (ìBNP Paribasî, France) acquire within the meaning of Article 3(1)(b) of the Council Regulation, joint control of the undertaking Cetelem Bank GmbH (ìCetelemî, Germany) by way of purchase of shares.

The business activities of the undertakings concerned are :

-- for Dresdner : all areas of the banking business,

-- for Cetelem S.A.: consumer credit services,

-- for Cetelem : consumer credit services.

1OJ L 24, 29.1.2004 p. 1

Commission europÈenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.

2.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 and of paragraph 5, subparagraph c, of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No139/2004.

For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EC) No. 139/2004.

For the Commission

Neelie KROES Member of the Commission signed

2Available on DG COMP website: http://europa.eu.int/comm/competition/mergers/legislation/consultation/simplified_tru.pdf.

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