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BANCO SANTANDER / GERMAN RETAIL BANKING BUSINESS OF SEB
M.5931
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 1.2
Description of the concentration
Banco Santander, S.A. (“BS”), the parent company of an international banking group based in Spain, intends to acquire control of the German retail banking business (“GRB Business”) of SEB AG.
The business activities of the undertakings concerned are:
• BS: retail banking, asset management, corporate and investment banking, treasury and insurance.
• GRB Business: Retail banking in Germany, in particular accounts, deposits, securities and insurance.