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MERRILL LYNCH / ABBEY NATIONAL / JV
M.4725
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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.
COMP/M.4725 - MERRILL LYNCH/ ABBEY NATIONAL/ JV
SECTION 1.2
Description of the concentration
The proposed concentration involves the acquisition of joint control by Abbey National and Merrill Lynch of Concert Mortgages Holdings Limited.
The businesses activities of the undertaking concerned are:
• for Merrill Lynch: investment banking and other financial services activities;
• for Abbey National: corporate and retail banking services, financial services; and
• for Concert Mortgages Holdings Limited: the provision of non-conforming mortgage loans in the UK and the intermediation of insurance related products for these loans.