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BANQUE FEDERATIVE DU CREDIT MUTUEL / CITIBANK PRIVATE BANKING GERMANY
M.5278
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REGULATION (EC) No 139/2004 MERGER PROCEDURE
Article 6(1)(b) NON-OPPOSITION Date: 28/08/2008
In electronic form on the EUR-Lex website under document number 32008M5278
Office for Official Publications of the European Communities L-2985 Luxembourg
COMMISSION OF THE EUROPEAN COMMUNITIES
Brussels, 28-VIII-2008
SG-Greffe(2008) D/205259
C(2008) 4736
PUBLIC VERSION
MERGER PROCEDURE ARTICLE 6(1)(b) DECISION
SIMPLIFIED PROCEDURE
To the notifying party:
Dear Madam, Dear Sir,
Subject: Case No COMP/M.5278 - Banque Federative du Credit Mutuel/Citibank Private Banking Germany Notification of 28.07.2008 pursuant to Article 4 of Council Regulation (EC) No 139/2004 Publication in the Official Journal of the European Union No C196, 02.08.2008, p.14
1.On 28 July 2008, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertaking Banque Fédérative du Crédit Mutuel, France (“Crédit Mutuel”, France) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of Citigroup's German retail banking business (“Citibank Germany”), by way of purchase of shares.
1OJ L 24, 29.1.2004, p. 1.
Commission européenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.
2.The business activities of the undertakings concerned are :
-- for Crédit Mutuel: retail banking, insurance-banking
-- for Citibank Germany: retail banking, insurance business.
3.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) No 139/2004.
4.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 [signed] Philip LOWE Director General
2OJ C 56, 05.3.2005, p. 32.
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