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Case No COMP/M.7570 - CAIXABANK/ BPI

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REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 04/05/2015

In electronic form on the EUR-Lex website under document number 32015M7570

Office for Publications of the European Union L-2985 Luxembourg

EUROPEAN COMMISSION

Brussels, 04.05.2015 C(2015) 3121 final

PUBLIC VERSION

SIMPLIFIED MERGER PROCEDURE

To the notifying party:

Dear Sirs,

Subject: Case M.7570 - CAIXABANK/ BPI Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 and Article 57 of the Agreement on the European Economic Area

1.On 07/04/2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking CaixaBank, S.A. (“CaixaBank", Spain) belonging to the group Fundación Bancaria Caixa d’Estalvis i Pensions de Barcelona (Spain) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of the undertaking Banco BPI ("BPI", Portugal) by way of public bid announced on 17/2/2015.

The business activities of the undertakings concerned are:

- for CaixaBank: banking services (retail, corporate, private banking), collective investment and securitization services as well as the provision of specialised insurance products.

- for BPI: investment banking (equities, corporate finance and private banking), retail banking, management of investment funds, pension funds and life insurance-capitalization.

1OJ L 24, 29.1.2004, p. 1 (the "Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by "internal market". The terminology of the TFEU will be used throughout this decision.

2OJ L 1, 3.1.1994, p. 3 ("the EEA Agreement").

3Publication in the Official Journal of the European Union No C 119, 14.04.2015, p. 45.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.

3.After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission (Signed)

Alexander ITALIANER Director-General

4OJ C 366, 14.12.2013, p. 5.

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