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

Barclays Bank PLC ("Barclays") and Crédit Foncier de France ("CFF"), a wholly owned subsidiary of the BPCE Group, envisage to jointly acquire Hexagone France 3 SARL. The transaction is notified to the European Commission under Article 1(2) of Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings.

Barclays is a global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. Barclays operates in over 60 countries on a worldwide basis.

CFF is a wholly owned subsidiary of the BPCE Group. The BPCE Group was constituted on 31 July 2009 pursuant to the merger of Groupe Banque Populaire and Groupe Caisse d’Epargne. BPCE Group is positioned as the second banking network in France. Its main subsidiary is Natixis, the Investment Bank of the Group. It also has subsidiaries in retail banking, commercial banking, Insurance and Real Estate services.

CFF is a mortgage specialist committed to financing individuals, professionals and the public sector in France and abroad. As the sole specialised player in France, affiliated with the BPCE Group, its goal, using its robust and long-standing funding model, is to help provide financing for all types of property projects.

Hexagone is a special purpose vehicle which sole business is to own two buildings for commercial use in the French department of Seine Saint-Denis (93), in the Ile-de-France region. Hexagone is a minor player on the local real estate market for commercial use in the department of Seine Saint-Denis. Barclays is not active on this market. CFF and the BPCE group more generally are only marginally present on the market. Therefore, the envisaged acquisition will not have any impact on competition.