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CITIBANK / EGG BANK
M.4592
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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
On 23 February 2007, the Commission received a notification of a proposed concentration
pursuant to Article 4 of Council Regulation (EC) No. 139/2004, by which Citigroup Overseas
Investment Corporation (“COIC”) will acquire sole control over Egg Banking plc (“Egg”).
The business activities of the undertakings concerned are respectively:
1.
COIC: holding company for Citigroup Inc’s non-US banking activities. Citigroup Inc
is a diversified global financial services holding company whose businesses provide a broad
range of financial services to retail and corporate customers.
2.
Egg: online banking and financial services provider to retail customers.